China First Iron Ore Pty Ltd - Mining Lease and Exploration Licence
The capital cost of developing the integrated project, including all necessary infrastructure to support stage one of the China First Iron Ore Project, is estimated to be approximately A$2.7 billion. We expect that 30% of the project cost will be funded by equity and the balance by debt. We intend to appoint MCC as the EPCM contractor for the China First Iron Ore Project, subject to reaching agreement with MCC on the terms of the EPCM contract. We expect the design phase of the China First Iron Ore Project to commence in the second quarter of 2011. MCC is the construction partner for CITIC Pacific with respect to the neighboring Sino Iron Project. We intend to commence physical construction of the first stage of the project in the third quarter of 2011, with commissioning and commercial production of stage one of the China First Iron Ore Project expected in the first half of 2014. We intend to export our iron ore products primarily to PRC markets
ARH Price at posting:
32.0¢ Sentiment: Hold Disclosure: Held
