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That's exactly the problem - new mine, huge rail and new port just for 55mtpa. That's a lot of infrastructure for not a lot of production. Doable in FMG's day at the top of the market but now it looks less sure. When you look at how much it costs Rio to bring the same extra production on...

http://au.news.yahoo.com/thewest/business/a/-/wa/18124589/shot-in-the-arm-for-roy-hill/

Confusion rains and reigns. Tenders are out, people are mobilised, work is happening, ground is being broken - yes. This is all called early works. What we don't have is a firm commitment to build the mine, rail and port. Because there isn't enough cash in the kitty. Because the banks...

I think you need to read up on the difference between "early works" and "final investment decision / financial close". Roy Hill is still in the former... Ausprop - that's a question for their bankers? Who of course will say they only consider long term iron ore price forecasts, not the spot...

Roy Hill is still in early works. I notice the deadline for it to receive debt funding has just been extended again to the end of the year. So equity partners have stumped up another $200m to keep the juggernaut going in the meantime. Hopefully the market for iron ore looks a bit better by...

Ummmm - Yes - is there anything else in West Perth? :)

Just noticed today's article in the West. West Perth heading for a 15% vacancy rate by the end of the year with all the issues with resource juniors and services. I thought I was seeing a lot of "for lease" signs... not good.

MRRT is easy - there hasn't been any revenue so it's pretty hard to argue it's had much of an impact! Carbon tax is also easy. Power costs add up to around 10% of overall costs for hematite miners burning gas in the Pilbara. Roughly half of that is the capital cost of building the power...

If this was the Sunday Times, I always skip this quality example of journalism - what did it say about Karratha? Were there any actual reasons for their guess about price trajectory?

Where do I sign? John Forrest has a lot to answer for!