16
Feb
11:49
CITIC expects third annual Sino Iron write-down
Hong Kong-listed CITIC Pacific has warned that it expects to write down another $800 million to $1 billion in the value of its Sino Iron mining project in the Pilbara. It also warned that the future of the 14 million tonnes/year magnetite project rests on coming to an understanding with business partner Clive Palmer, Kallanish notes.
CITIC has already spent over $10 billion on developing Sino Iron, which has already been written down by $1.75 billion in its 2014…
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Anonymous
Very good overview of the weekly steel market.
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