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West Pilbara Iron Ore port, rail costs seen well below A$4.6 bln
July 31, 2014 / 12:55 AM / 3 years ago

West Pilbara Iron Ore port, rail costs seen well below A$4.6 bln

MELBOURNE, July 31 (Reuters) - Aurizon Holdings Ltd , which teamed up with Chinese steel giant Baosteel to gain a 50 percent stake in the West Pilbara Iron Ore project in Australia, expects the port and rail cost to come in well below a 2012 estimate of A$4.6 billion ($4.29 billion).

“We can’t quantify it at the moment. But our expectation is that the numbers will be very materially different, i.e. better, than the ones that were anticipated in those 2012 numbers,” Aurizon CEO Lance Hockridge told Reuters in an interview on Thursday. ($1 = 1.0726 Australian Dollars) (Reporting by Sonali Paul; Editing by Paul Tait)

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