Fortescue Says Cost of Developing Solomon Mine Is $5.4 Billion
Steel Production in China Declines on Power Curbs. Crude steel production in China, the world’s biggest maker, dropped 5.9 percent in September compared with a year ago as the government imposed power restrictions to meet energy-efficiency targets.
Fortescue Metals Says to Consider Solomon Feasibility in Nov.Fortescue Metals Group Ltd. will consider a feasibility study on the Solomon mine in November and will provide more information once it’s approved, according to a regulatory filing.
Fortescue Says Cost of Developing Solomon Mine Is $5.4 Billion. Fortescue Metals Group Ltd., Australia’s third-biggest producer of iron ore, said the cost of developing its Solomon mine in Western Australia state will be $5.4 billion, about 67 percent more than initially expected.
