current status?, page-42

Whilst we have been focused on our own capex issues, its worth looking over our shoulders again. From the Australian this morning ...

"CHINESE metals giant Sinosteel may have killed off the troubled $6 billion-plus Oakajee port and rail development in its present form by shelving a planned $2bn iron ore mine in protest against the mounting costs and delays in building the infrastructure project.

The dramatic move is a huge blow to Oakajee Port & Rail's owners, Perth-based Murchison Metals and Japan's Mitsubishi Corp, because Sinosteel's Weld Range project in Western Australia had signed up as one of its three foundation customers."

Lucky we don't need a $6 billion dollar port and rail development, eh!