china firm to build wa iron ore project, page-2

i think this is what it is in reference too!!!

Mr Burston said it was too early to comment on the nature of Citic's interest, which comes in the wake of its $290 million payment for the mining rights to a billion tonnes of magnetite at Clive Palmer's Cape Preston project, 80km to the southwest.

Citic last week said it was pushing full steam ahead with plans for a $US2.5 billion ($3.2 billion) magnetite mining and processing venture at Cape Preston, where it also has options to acquire the mining rights for another five billion tonnes of magnetite from Mr Palmer's Mineralogy group.

Would love it to be cfe but!!!! we will just have to wait and find out.