FORTESCUE Metals Group has been stung by a further cost increase and delay to its Iron Bridge magnetite project, with COVID-19 related labour constraints including isolation and absenteeism resulting in 40,000 hours of lost productivity at the project.
FMG CEO Elizabeth Gaines
FMG said other factors included ongoing supply chain issues, higher installation and construction costs, and escalations in logistics and shipping costs, which were further exacerbated by the recent lockdowns...
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