Lets get the facts - Mitsubishi did not put it on hold - already taken from them - a done deal.
Barnett in China last week -
He said he reached an agreement with the NDRC that the WA government would concentrate on the port component of the project, while Chinese state-owned enterprises would build the railways. Mr Barnett did not say whether taxpayers would need to put more money into building the Oakajee port as part of the new agreement with China. The state and federal governments have already committed almost $700 million to the project, which is designed to open up the midwest as a major iron ore export province. Mr Barnett, who also travelled to Tokyo, said Japanese corporate giant Mitsubishi, the owner of project developer Oakajee Port & Rail, had agreed to the plan for China to build the railway from the region's mines to the Oakajee port. Mitsubishi would instead concentrate on its Jack Hills mine and its own rail line.
Today was a bit of a face saving announcement from Mitsubishi, should have been taken off them 2 years ago. This will speed it all up if anything.
GBG Price at posting:
12.5¢ Sentiment: None Disclosure: Held
