21
Jan
00:00
CITIC takes $1.8bn hit over Sino Iron
China’s CITIC has announced it expects to write another $1.4-1.8 billion off the value of its Sino Iron mining project in Australia, blaming low iron ore prices and lower price forecasts. It is not the first time it has been troubled by the project however which was delayed, over-budget and has high operating costs, Kallanish notes.
Analysts in Australia have estimated the cost of iron ore from Sino Iron, which is producing concentrated magne…
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Anonymous
Very good overview of the weekly steel market.
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