https://www.copyright link/companies/mining/fortescue-parts-ways-with-to...

https://www.copyright link/companies/mining/fortescue-parts-ways-with-top-brass-amid-fears-of-huge-cost-blowout-20210216-p5730fw w w . a f r . c o m /

I guess many people here will have read the news this week
about FMG's cost blowout of their planned Iron Bridge magnetite
project, which is forecast to produce relatively high grade IO in ~18 months time.
I thought this quote from the AFR was interesting ...

"Fortescue has been reviewing the Iron Bridge project, including costs and the timetable,
and is unhappy with what has been uncovered. The project, a joint venture between Fortescue,
Taiwan’s Formosa and China’s Baosteel, had been due to begin production in mid-2022."

So if FMG is having problems getting this into production, its bad news for them, but
perhaps good news for FEX, given that FMG might otherwise be coming on stream in mid-2022
with additional production capacity. Will potentally help to maintain high IO prices in the
mid-term.

All IMHO, DYOR