If Mineralogy are successful in terminating Citic's licence to...

  1. tcf
    6,128 Posts.
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    If Mineralogy are successful in terminating Citic's licence to operate at Cape Preston its not just iron ore mining that will end. Its mining, processing and shipping will all be gone. Citic's whole operation is on Mineralogy leases. $10 billion plus in infrastructure would be gone and in the ownership of Mineralogy.

    I doubt Citic is giving any thought to spending another $10 billion relocating to any other low grade ore deposit in the Pilbara. If they are dudded at Cape Preston Australia would be off China's radar for a long time.

    At current and projected iron ore prices Buckland and Cape Preston East port at around $1 billion are more likely a very, very long way off for BCI. If Buckland ore can go on Boasteel's railway to Ankatel port then Cape Preston East is gone for a very long time. What a difference a few years of Rio and BHP building up production capacity can do for the minnows. Back to gold exploration for most of them.
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