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Reuters reported Fortescue Metals Group Ltd (ASX:FMG) says its plan to increase iron ore production has now reached a cost of $9 billion.
Reuters reported Fortescue Metals Group Ltd (ASX:FMG) says its plan to increase iron ore production has now reached a cost of $9 billion.
As quoted in the market news:
…the Australian miner remains on track to reach its target rate by mid-2013.
The cost overruns are the latest to hit an Australian resource development, with A$260 billion ($266 billion) worth of advanced mining and energy projects all competing for workers, equipment and funding.