Xstrata Increases Capital Spending Estimate at Frieda River by $300 Million

Reuters reported that Xstrata has increased its cost estimates for its undeveloped Frieda River copper mine in Papua New Guinea to $5.6 billion.

As quoted in the market report:

Rising costs have forced many miners to review the spending required on greenfield copper projects as they battle over a limited pool of skilled workers and equipment, particularly in remote locations like Papua New Guinea (PNG).

To view the whole Reuters report, click here.