Unfortunately, there have been major cost blowouts in some new...

Unfortunately, there have been major cost blowouts in some new mining developments in Australia. My understanding that such large blowouts are far less common, & not to the same %, as in Brazil.
Will this make CTM a more attractive takeover target, as it has much less financial risks, cf developing a new mine in Australia?

AFR 27.7.23

$48.820-0.89%

Jul 22Jan 23Jul 2342.00048.00054.000

Tribeca’s resources fund manager Ben Cleary said the write-offs amid acute demand for such commodities will dampen enthusiasm for development in the sector. “The current round of capex blowouts we are seeing will destroy boardroom confidence in committing to future projects,” said Mr Cleary.

“This is a perverse outcome because the global economy is very bullish for commodities and supply shortages for key commodities will only become more pronounced.”

Last week, WesternAustralia nickel producer IGO shockedthe market with a near $1 billion hit when it reduced the value of two nickel mines it bought for$1.3 billion just a year ago.Lake Resources revealed last monthits flagship lithium project will be delayed by six years and cost $540 million more.

Hastings Technology Metals admitted in May that costs at itsYangibana rare earths project will jump by 40 per centto $948 million. BCI’s salt and potash project in WA has suffered a $500 million blowout, and Wesfarmers’ Mt Holland lithium project will cost $300 million more than anticipated.

Together, those are worth about $2.9 billion this year alone. But when Oz Minerals’ West Musgrave nickel project (now owned by BHP) and Rio Tinto’s Oyu Tolgoi project (where the original estimates of $US5.3 billion has blown out to more than $US7 billion) are included, the final price tag is likely to come in at just over $6 billion.

The troubledSnowy 2.0 pumped hydro storageproject is expected to suffer a similar fate. Capital expenditure costs are destined to rise well above the previous forecast of $5.9 billion to around $10 billion".