April 1, 2019 / 10:58 PM / 17 days ago

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

(Reuters) - 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.

Reporting by Aditya Soni in Bengaluru; Editing by Sonya Hepinstall

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