This announcement is not surprising considering the iron ore market, delays at Esperance and doubt over the upgrade going ahead. Most Yilgarn projects are currently unviable with production costs higher than io prices. This JV has been a balls up from the initial condition of wanting to issue over a billion shares and makes you wonder what might have been had the sumitomo JV not been canned a few years back.
This announcement is not surprising considering the iron ore...
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