CITIC Group

Citic profit slides on Sino Iron impairment

China-based Citic Group has posted a big slide in full-year profit to $HK39.8 billion ($6.5 billion) for 2014, on the back of a $2.2 billion impairment charge on its Sino Iron project in the Pilbara.

24 Mar 2015

Government

Iron ore uncertainty inevitable

By Matt Mckenzie

The falling price of iron ore is putting substantial pressure on local miners, particularly small and mid-sized players, but the price of the bulk commodity is still well above levels achieved just more than a decade ago.

27 Jan 2015

Government

Citic flags $US1.8bn Sino Iron impairment

By Fraser Beattie

China-based Citic Group has flagged a $US1.4 billion to $US1.8 billion impairment at its Sino Iron magnetite project in the Pilbara as a result of the falling value of iron ore.

20 Jan 2015

Infrastructure

Aquila takeover targets $6bn Pilbara project

By Mark Beyer and Cameron Drummond

Continued growth of the Pilbara as an export-focused iron ore province received a huge boost today when Chinese steel giant Baosteel and Australian railway operator Aurizon teamed up to bid for the Perth company behind a $6 billion port and rail project.

05 May 2014

Mining

Padbury's Oakajee deal terminated

By Michael Ramsey

Less than three weeks after announcing it had secured $US6.47 billion ($6.89 billion) in equity funding to construct a port and rail network at Oakajee, junior explorer Padbury Mining says the deal is now dead.

30 Apr 2014

Mining

Fresh doubts on Padbury funding claim

By Michael Ramsey

Padbury Mining has sought another extension to its suspension from trading, saying it needs more information from its mystery backer to determine whether they have the capacity to provide a massive $US6.47 billion ($6.89 billion) funding deal to construct a port and rail network at Oakajee.

17 Apr 2014

Opinion

Clear path for CITIC at Oakajee

By Tim Treadgold

Finally, after decades of dithering and empty promises there is hope the ambitious Oakajee port and rail plan in the Mid West will move beyond the drawing board, not that there will be a ground-breaking ceremony for a few more years.

16 Apr 2014

Mining

Padbury extends trading suspension

By Michael Ramsey

Premier Colin Barnett says he can't see "a great deal of substance" in junior explorer Padbury Mining's claims it has secured a massive $US6.47 billion ($6.89 billion) funding deal to construct a port and rail network at Oakajee, as the company missed a self-imposed deadline to reveal its mystery backer.

15 Apr 2014

CITIC Group

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