Fortescue Metals Group Releases Pilbara Iron Ore and Infrastructure Project Monthly Construction Reportadmin
Fortescue Metals Group provided Pilbara Iron Ore and Infrastructure Project monthly construction report, reporting that first ore on ship remains scheduled for mid May 2008. During May, it continued good construction progress at both port and mine sites with dredging now completed and total port construction has advanced beyond 50% complete and is ahead of schedule. Mine site earthmoving gathers pace and is near schedule with concrete poured for crushing and screening facility and the stockpile vault fully excavated. The company added that project final forecast cost has been recast at $2,572m which includes $102m of contingency, representing an increase of some $99m from last months reported project cost and is primarily due to the revised rail construction program.
Original Announcement: Lodgement of May 2007 Construction