Original article by Nick Evans
The Australian – Page: 16 : 1-Mar-21
Fortescue Metals Group recently stated that it is likely to release a final cost figure for its troubled Iron Bridge magnetite project within three months. The pure-play iron ore miner advised that preliminary figures show that the project will cost about $US3bn, compared with initial estimates of $US2.6bn. Fortescue is also believed to be considering a ‘build-own-operate-transfer’ model for water infrastructure associated with the Iron Bridge project, whereby other companies would bear the cost of building the water network and eventually sell it back to Fortescue.
FORTESCUE METALS GROUP LIMITED – ASX FMG