CITIC's Iron Ore Project in Western Australia Delayed Yet Again

By Esther Tanquintic-Misa,

Shutterstock photo

The trial production of the $US8-billion iron ore project of China's CITIC Pacific Ltd in Western Australia has again been moved to November, delayed three months later than last announced.

This time the cause of delay was blamed on the failure of the project's main contractor, China Metallurgical Group Corp ( MCC ), to complete the construction of the magnetite iron ore mine project's processing area by the end of August.

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This article appears in: Investing Commodities
Referenced Stocks: MCC

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