Cliffs Chromite Project to Cost Triple

Reuters reported that a large chromite project in Ontario is expected to cost triple the original estimate.

As quoted in the market news:

[Cliffs CEO] Carrabba said the estimate had risen mainly because road construction in the remote Ontario location had not been included in the original estimate. He said there had been a “sharpening of the estimate” as the project moves through the pre-feasibility stage.

Click here to read the full Reuters report.