A Western Australian iron ore industry group has reluctantly mothballed its activities, citing the difficult economic circumstances facing the industry.
Mining industry pundits bemoaning the end of the ‘boom' will be pleasantly surprised to know that up to a dozen major projects could go ahead over the coming year.
MID West iron ore projects have the potential to produce 67 million tonnes of iron ore per year, earning the state annualised royalties in the range of $42 million.
A major Chinese investment firm has received regulatory approval to take a 60 per cent equity stake in Asia Iron Holdings, the company behind the Extension Hill Mid West magnetite project.
Mid-West magnetite hopeful Asia Iron Holdings is targeting a 2012 production start at its flagship $2 billion Extension Hill project near Geraldton, after securing a major state-owned Chinese partner for the venture.
