$2bn hit for China's WA iron ore mine, as costs tripleBY: ANDREW...

$2bn hit for China's WA iron ore mine, as costs triple
BY: ANDREW BURRELL From: The Australian July 21, 2012 12:00AM
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THE cost of building China Inc's first iron ore mine in Australia has blown out to a staggering $US8 billion ($7.7bn) -- more than triple the original $US2.5bn budget -- but the developer says the disastrous project will finally enter production within weeks.

The Sino Iron project in the Pilbara, China's largest investment in the Australian mining sector, is touted as the biggest magnetite project in the world.