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Transshipping is used at Citic's Sino Iron magnetite mine. Photo: Tony McDonough

Citic warns of Sino suspension in Mineralogy dispute

Chinese company Citic has recorded a first-half loss at the Sino Iron magnetite mine in the Pilbara, while warning that the ongoing tussle with tenement holder, Clive Palmer’s Mineralogy, means production at the project could eventually be suspended.

The resources and energy arm of Citic, which includes Sino operator CITIC Pacific Mining, posted a loss of $46 million in the six months to June, although the exact contribution of the Western Australian project was undisclosed.

The $10 billion Sino Iron project started operation in 2013, with commissioning of all processing lines completed in July 2016.

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WA export revenue

10th-Hancock Prospecting$1.68bn
11th-South32$1.38bn
12th↑CITIC Pacific Mining$858.9m
13th↑Atlas Iron$785.8m
14th-Mineral Resources$778.1m
49 exporters ranked by WA export revenue most recent financial year

Number of Employees

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