The Oakajee rail and port project is trundling back under way again.
Placed on hold in June when delays led to a loss of interest from Sinosteel, Murchison Metals, the Sydney-listed mining company reviewed the joint-venture in July.
It decided that it could not fund its 50% share of the project which required a total investment of AUSD 7bn ($6.8bn).
Murchison’s partner, Mitsubishi has now announced that it will buy out the Australian company’s interest for $325m in a deal to be finalised by February.
The
