Fortescue, Taiwanese partner approve $2.6 billion stage 2 of Iron Bridge Magnetite Project

Fortescue Metals Group Ltd said on Tuesday said its unit FMG Magnetite Pty Ltd and Taiwanese joint venture partner Formosa Steel IB Pty Ltd approved the development of stage 2 of the Iron Bridge Magnetite Project in Western Australia.

The total capital costs for stage 2 are pegged at $2.6 billion, Fortescue said in a statement.

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