RAILROADS – WESTERN AUSTRALIA

Sinosteel cautions Oakajee doubters

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Original article by Peter Ker, Brad Thompson
The Australian Financial Review – Page: 18 : 22-Oct-19

Western Australia’s Premier Mark McGowan says he would welcome any move to proceed with the stalled Oakajee port and rail project, after Sinosteel’s recent deal to acquire Mitsubishi’s interest in it. However, Ports Minister Alannah MacTiernan ha expressed doubts regarding the $10bn project’s viability. Stuart Griffiths, the CEO of Sinosteel Midwest, says people should keep "an open mind" on the issue, adding that good quality iron ore will always be in demand.

CORPORATES
SINOSTEEL CORPORATION, SINOSTEEL MIDWEST CORPORATION LIMITED, MITSUBISHI CORPORATION, WESTERN AUSTRALIA. DEPT OF THE PREMIER AND CABINET, FORTESCUE METALS GROUP LIMITED – ASX FMG

China launches $10b push for Oakajee iron ore

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Original article by Peter Ker
The Australian Financial Review – Page: 3 & 22 : 21-Oct-19

Sinosteel has acquired Mitsubishi’s interests in the long-stalled $9.7 billion Oakajee port and rail project in Western Australia. Sinosteel’s $2 billion Weld Range iron ore project was to be a customer of the Oakejee project, but cost blowouts saw proposed port tariffs increased, leading Sinosteel to conclude that Weld Range would not be viable, and it stopped work on Weld Range in June 2011. Sinosteel’s acquisition of Mitsubishi’s stake in the Oakajee project has sparked hopes that it could be revived, and that a new iron ore export province in WA can be created.

CORPORATES
SINOSTEEL CORPORATION, MITSUBISHI CORPORATION, FORTESCUE METALS GROUP LIMITED – ASX FMG