Iron ore miner Fortescue Metals Group Ltd (ASX: FMG) scored on Thursday a media report suggesting that the company's declared Solomon Project cost overshot by almost $US2 billion, arguing that the news article was based on an incomplete and confidential document.

Published by the Australian Financial Review, the news story carried claims that Fortescue's expansion activities on its Solomon project actually required a total capital cost of $US5.4 billion.

The news article claimed that the figures were gleaned from a 441-page provisional prospectus, which the paper obtained as it also cited that the numbers were inconsistent with projections released by Fortescue that placed the Solomon expansion to about $US3.24 billion, with 30 percent more or less allowed for deficiency.

Following the story's release, Fortescue announced a pre-market trading halt on Thursday as the Perth-based miner clarified that it has revealed this week that it is set to offer senior unsecured notes to raise some $US2.04 billion that would help finance the company's expansion projects.

The company added that the news report published by the Australian Financial Review was based solely on "a preliminary, incomplete and confidential document which is in the process of being finalised by the company and its financial advisers."

It further argued that even at its premature condition, the figures allegedly pointed out by the news article "makes reference to a capital cost of $US5.40 billion, which is consistent with media and analyst commentary of circa $US80 per tonne capital cost guidance to fund expansion from 55 million tonnes per annum (MTPA) to 155 MTPA.

Fortescue resumed trading late in the day and saw its shares being shaved by three cents to settle at $6.17 by the market's closing.