19
Aug
01:00
Baosteel-Aurizon mining JV cuts A$1.5bn of capex estimate
Australia’s Aurizon Holdings has said the projected spending on port and rail infrastructure for its West Pilbara Iron Ore Project, a joint venture with China’s Baosteel, could be 25% lower than expected. The AUD 1.5 billion ($1.1bn) saving will increase the likelihood of the long-term project proceeding, Kallanish notes.
The 30 million tonnes/year mining project is unlikely to begin production until at least 2019-2020, Aurizon has said, and a fi…
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