One of Australia's biggest infrastructure projects has been dealt a blow with the decision of a major Chinese customer to withdraw from the development, Seatrade Asia reports.
Sinosteel is one of the three foundation members for the Oakajee Port and Rail project to be established near Geraldton in Western Australia.
Sinosteel has decided to stop developing a $2 billion iron ore mine which would have required one third of the port's capacity. The company is concerned about the costs.
Both the state and federal governments have significant stakes in the project.
Sinosteel is one of the three foundation members for the Oakajee Port and Rail project to be established near Geraldton in Western Australia.
Sinosteel has decided to stop developing a $2 billion iron ore mine which would have required one third of the port's capacity. The company is concerned about the costs.
Both the state and federal governments have significant stakes in the project.
Sinosteel says it has decided to "park" its Weld Range mine because there have been too many delays.