Citic Pacific Says Australian Iron Ore Project Cost Rises 10%

Posted by on August 28th, 2008 at 07:33pm

wrote an interesting post today on
Here’s a quick excerpt
Citic Pacific Ltd., the Hong Kong arm of China’s biggest state-owned investment company, said the building cost for its iron-ore mining project in Australia would rise by 10 percent as it prepares for further expansion. Expenditure would rise to $3.85 billion from $3.5 billion, Chairman Larry Yung said today at a press conference in Hong Kong. The company plans to expand from an expected 27.6 million metric tons of annual output, he said, without giving details. Citic Pacific needs to build t

Read the rest of this great post here

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