Under the pressure of high costs, MCC shelved the iron ore project in Western Australia
due to the high mining costs in Australia, metallurgicalcorporationofchina (MCC) recently shelved the iron ore project in Western Australia worth 3billion yuan and withdrew its employees from Perth
the Chinese enterprise spent 400million yuan to acquire Cape Lambert iron ore project from Tony sage, a boss of Perth business, in 2008. However, due to high operating costs, the company decided to close Perth's office by the end of next month and leave less than 5 people in a small new office to continue its business in Australia
at present, several projects controlled by Chinese enterprises have been shelved due to soaring costs. China Metallurgical Science and Industry Co., Ltd. is also the contractor of the 8 billion yuan Sino Iron ore project under CITIC Pacific. Previously, in 2006, the cost of the project was expected to be only 2.5 billion yuan
the state-owned enterprise headquartered in Beijing recently refused to comment on the decision to withdraw from the Cape drive system Lambert, but this decision did not surprise analysts, who believed that when they decided to take over the project, China Metallurgical Science and industry was too confident in the price of iron ore
analysts pointed out that China's metallurgical industry has also been suppressed by rising labor and development costs. He said: "the development cost has been rising all the time. The company can't import Chinese labor services from China. The water and electricity charges and railway construction seem to be a bottomless pit."
as China's interest in Australian iron ore has always been affected by project delays and cost breakdowns, it is believed that the economic power is currently cautious about overseas iron ore. we found that with the change of particle size of PVC Filled wood flour, investment is extremely cautious. In the Midwest of Western Australia, Sinosteel group was forced to shelve the weldrange project worth US $2billion (equivalent to 1.9 billion Australian dollars) last year. The cost of the joint venture between gindalbiemetal and China Ansteel also broke Table 8. Drive the precision screw pair for experiments
mcc has outlined its plan for the magnetite project in September 2010, and it is expected that it will start construction this year and export the first batch of products in 2015. The company said that the project 20 kilometers away from Karratha will require employees and permanent workers during construction