AAP reported that Iron ore miner Murchison Metals Ltd has announced delays at its Jack Hills expansion project and other works.
Murchison said there had been delays that had blown out the timeframe for the works. It said “Implementation agreements being negotiated with the state government and supply chain agreement negotiations with foundation customers will not be completed in the current quarter as originally scheduled.”
Murchison said completion of bankable feasibility studies for the expansion project and the Oakajee Port and Rail projects were now expected to be completed in the second quarter of 2011.
The company had previously expected the feasibility studies to be completed before the end of calendar 2010.
A final investment decision for the works was now expected in late 2011 or early 2012 and the first shipment through Oakajee Port is expected late in 2014 or early 2015 rather than early 2014.
Murchison is a 50% shareholder in Crosslands Resources Ltd which owns the Jack Hills iron ore project in Western Australia mid west region. Mitsubishi Development Pty Ltd owns the remaining 50% of Crosslands.
(Sourced from steelguru.com)
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