On 16 March, GBG announced a $125 million cost blowout at its Karara iron-ore project.
GBG now expects construction costs to total around $2.63 billion due to soaring labour, fuel and materials costs.
The company brought forward the ramp-up of the project to avoid what it expects to be a more damaging inflationary environment.
Written by: admin Other posts from: admin
Posted in ASX Small Caps, ASX Top 200 XJO, ASX Top 500 All Ordinaries, Australia Shares, Best Shares, Financial News, Market Sectors News, Materials Stocks, Mining Shares Australia, S&P ASX News, Top Stocks