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FMG's multi-billion Iron Bridge to proceed

Fortescue Metals Group (ASX:FMG) and partners Baosteel and Formosa Steel have decided to press the button on the US$2.6 billion expansion of the dormant Iron Bridge project in Western Australia’s north, starting development of Australia’s largest magnetite resource after a decade of sweating the asset.

FMG's multi-billion Iron Bridge to proceed FMG's multi-billion Iron Bridge to proceed FMG's multi-billion Iron Bridge to proceed FMG's multi-billion Iron Bridge to proceed FMG's multi-billion Iron Bridge to proceed

Iron Bridge will finally get its expansion

Iron Bridge, which some may have thought was rusting away in the Pilbara scrub, was subject to a deal with Formosa on some jaw-dropping terms in 2013, with the Taiwanese corporation funding the bulk