11
May
01:00
Baosteel postpones iron ore project on weak price
China’s Baosteel and Australian partner Aurizon Holdings have decided to postpone the final investment decision on a 30 million tonnes/year iron ore mining project they acquired in 2014. The mine is now unlikely to begin production before 2019-2020, according to Aurizon.
The West Pilbara Iron Ore Project was begun by Aquila Resources, but failed to get off the ground after a decade of planning before Aquila was bought by Baosteel and Aurizon last year.…
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