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FSUMF - Fortescue Metals OKs development of $2.6B Australian iron ore project
Fortescue Metals Group Ltd.
Fortescue Metals (OTCQX:FSUMF+1.7%) and Taiwanese partner Formosa Steel say they will move forward with development of the Iron Bridge magnetite iron ore project in Western Australia, with plans to spend $2.6B (A$3.7B) to substantially boost the grade of its iron ore exports.
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