Iron Bridge cost blows out almost $1B

FORTESCUE Metals Group has admitted its Iron Bridge magnetite project in Western Australia’s Pilbara could cost nearly $1 billion more to build with the capital estimate growing to US$3.3-$3.5 billion. The initial estimate had been US$2.6 billion.

Iron Bridge cost blows out almost $1B Iron Bridge cost blows out almost $1B Iron Bridge cost blows out almost $1B Iron Bridge cost blows out almost $1B Iron Bridge cost blows out almost $1B

The size of the cost blowout at Iron Bridge has increased.

The cost blowout has been blamed on "project-specific and market factors" impacting the costs of materials and installation.