Procurement problems cause $US900m blowout for iron ore project
26 Jul 2011
Source: The West Australian
Australia's first Chinese-run iron ore operation, CITIC Pacific's Sino Iron project south of Karratha, has suffered procurement problems after its owner admitted to a potential $US900 million cost blowout.
CITIC said it was "clearly disappointed" with the performance of its engineering, procurement and construction contractor, China Metallurgical Group Corporation (MCC), which it blamed for the latest delays.
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