Business
FMG confirms 380 jobs impacted as Iron Bridge cost blowout hits contractors – The Sydney Morning Herald
FMG CEO Elizabeth Gaines said the company was working closely with contractors to support redeployment to other Fortescue sites where possible.
Fortescue Metals Group says 380 jobs have been impacted as its review of the Iron Bridge magnetite project in the Pilbara continues.
The technically complex magnetite project was originally slated to cost US$2.6 billion (AUD$3.39 billion) but last month the miner revealed it had blown out by US$400 million (AUD$522 million) thanks to the strength of the Australian dollar, access to skills and other market factors.
The Iron Bridge project has been hit with a US$400 million cost blowout.Credit:Quentin…
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