Iron Road has reduced capex estimates for its Central Eyre Iron Project in South Australia to $US3.7B, a $295M saving on its 2015 estimate due to development partner China Railway Group's in-house procurement systems and leverage on key capital items and equipment.
More mine establishment efficiencies are likely to come from a 2-month mine plan and schedule review to be carried out by in-pit crushing and conveying systems contractor Thiess-RWE.
Iron Road has received $A1M interest-free from major shareholder Sentient Group to meet short-term capital requirements until the partners engage an additional project partner.
http://www.miningbusiness.net/content/iron-road-partners-purchasing-power-cuts-central-eyre-capex
Iron Road has reduced capex estimates for its Central Eyre Iron...
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