more bad news, re magnesium. ex australian

  1. 1,691 Posts.

    Magnesium funding on skids
    By Andrew Fraser
    June 05, 2003
    Bryan Frith: AMC chasm survey needed
    Collapse threatens CSIRO

    ALMOST $2.7 billion in investment in Australia's two flagship magnesium projects was under threat last night as the federal Government and two states reviewed appeals for more funds.

    And in South Australia, the state Government yesterday extended a review of the $1.1 billion Magnesium International project at Port Pirie on the advice of SA Economic Development Board head Robert de Crespigny.

    The review has disrupted a planned $8.3 million rights issue to further the project.

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