Andrew Forrest's Fortescue Metal Group Ltd has increased the cost of its Pilbara iron ore project by $31 million, taking the final forecast cost up to $2.796 billion and leaving the company with no formal contingency.

Andrew Forrest's Fortescue Metal Group Ltd has increased the cost of its Pilbara iron ore project by $31 million, taking the final forecast cost up to $2.796 billion and leaving the company with no formal contingency.