According to The Australian Financial Review, the high iron ore prices that have underpinned the Australian economy and government revenues through the COVID-19 induced downturn have breathed life into one of Australia’s biggest undeveloped iron ore projects.
Established iron ore exporters in Western Australia understand the proponents of the long dormant Australian Premium Iron (API) project – China’s Baowu, Korea’s Posco and US company AMCI – aim to be exporting within 24 months.
Original plans for API to be a $7.4 billion mine, port and rail project producing an initial 40 million tonnes per year have been scaled back in favour of cheaper alternatives that would have API’s product transported on other companies’ rail and port infrastructure or trucked to port.
If you want to read this article in Japanese, please see the following link:
Subscribe to our English Newsletter