Australian Iron Ore Mine Finally in Production

Reuters reported that China’s CITIC Pacific is moving into initial production at its $8 billion iron ore project in Australia following years of delays.

As quoted by Reuters:

Already some four years behind schedule and billions of dollars over budget, commissioning of the first of the project’s two production lines has been going on since July, CITIC said in an e-mailed statement.

“We are now moving into the production stage,” it said.

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