Will this have anything to do with Cape Lambert?"China...

Will this have anything to do with Cape Lambert?

"China Metallurgical Group Corp has signed an engineering contract to construct a $US1.98 billion ($A2.5 billion) iron ore project in Western Australia, Xinhua news agency said.

The iron ore project partly owned by Citic Pacific is in the Pilbara region of Western Australia, Xinhua said.

It would include a 12 million tonne a year iron ore concentrator, a six million tonne per year iron ore pellet plant, a desalination plant, thermal power plant and port facilities, Xinhua said.

It is expected to be completed within three years.

The project - China's biggest overseas mining project yet - marks a new stage for MCC's overseas engineering and procurement contracts, Xinhua said.

MCC ultimately plans an initial public offering, officials and local media have said, but no timetable has yet been set."