Explore the latest developments concerning Mining giant Fortescue.
Mining giant Fortescue sues over trouble-plagued pipeline
Mining billionaire Andrew Forrest’s Fortescue and its Taiwanese partner are suing a subcontractor on a trouble-plagued pipeline that has heaped pressure on their $6.2 billion Iron Bridge magnetite project.
Fortescue and joint venture partner Formosa Steel claim Clover Pipelines and its Istanbul-based subcontractor Superlit Boru breached contracts and engaged in misleading and deceptive conduct, and are seeking damages.
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Fortescue hauls manufacturer to court over ‘defective’ pipeline at multibillion-dollar Iron Bridge project
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Mining giant Fortescue has kicked off legal proceedings over what it claims are defects in the pipeline connecting the Canning Basin to its multibillion-dollar Iron Bridge magnetite project in WA’s Pilbara region.
However, the company maintains the issues relating to the faulty pipes have not impacted the major magnetite project and its production guidance remains unchanged.
The Andrew Forrest-led company is one of three plaintiffs heading legal action filed in the WA Supreme Court this week seeking damages from faulty pipes.
Iron Bridge is owned under a joint venture between FMG Magnetite and Formosa Steel.
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