Sunday, November 29, 2009

Work To Start On $2bn WA Iron Ore Mine

Construction of a $1.8 billion iron ore project in the West Australia's Mid-West will officially get underway today.

Gindalbie Metals' Karara project, east of Geraldton, is one of the first large scale mining projects to get off the ground in the iron ore rich region.

The Premier Colin Barnett has joined company executives and representatives from the mining and resources sector for the official ground breaking ceremony at the site this morning.

The mine is expected to generate up to 1500 construction jobs and about 500 permanent positions once in production.

The mine is being developed as a 50/50 joint venture between Gindalbie and China's second largest steel producer Ansteel.

Earlier this year the Federal Government approved a deal to allow Ansteel to increase its stake in the West Australian miner to 36 per cent.

It is expected that construction of the mine could be completed as early as next year, with production tipped to commence by 2011.

Source: ABC Australia

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