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Capex Estimate for West Pilbara Iron Ore Project Cut by $1.5 Billion
Aug. 17, 2015 09:54AM PST
Base Metals Investing Aurizon Holdings Ltd (ASX:AZJ) announced that it has identified a $1.5 billion cost reduction in the capex for its West Pilbara iron ore project as part of the project assessment. The project is jointly owned by Aurizon, Korean major Posco (NYSE:PKX), American Metals & Coal International and Baosteel Resources
Aurizon Holdings Ltd (ASX:AZJ) announced that it has identified a $1.5 billion cost reduction in the capex for its West Pilbara iron ore project as part of the project assessment. The project is jointly owned by Aurizon, Korean major Posco (NYSE:PKX), American Metals & Coal International and Baosteel Resources
As quoted in the press release:
The Company has confidence in the strength of the counter parties and the opportunity for further capex reductions. A final investment decision is expected to be made in late CY16, subject to stage gates and long-term iron ore market fundamentals.
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