Sinosteel to delay Blue Hills iron ore mine

Sinosteel will delay its Blue Hills iron ore project.

Sinosteel Midwest Corporation has cited the lowered prices in ore for its delay of the Blue Hills hematite project.

The news of the delay came yesterday via an announcement from MACA, a contractor hired for the Blue Hills Direct Shipping Ore (DSO) project.

The West Australian reports that the project will make a $15 million impact on MACA’s projected revenues.

"Sinosteel Midwest's Blue Hills would be one of the smallest of MACA's operations by annualised revenue, and the small mining fleet can be utilised on other projects to reduce forecast capital spend pending further direction from Sinosteel Midwest," the contractor said in a statement.

The project was to have begun after Sinosteel’s Koolanooka hematite DSO project was completed in early 2013.

Koolanooka and Blue Hills were both approved by the WA government early in 2010.

 

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