out with the old, page-5

Excerpt From the wall street Journal Asia today,

Flinders last year appointed Citi to review strategic options for the company, which has estimated it will cost some A$1.1 billion to develop its flagship iron ore project that is targeting production of 15 million tons annually from 2015. Magnitogorsk was approached by City as part of the review, although two people say that strong interest had been shown by potential funding and joint venture partners.



http://blogs.wsj.com/dealjournalaustralia/2012/07/03/magnitogorsk-walks-away-from-flinders-mines/