Gindalbie Metals Ltd, a Perth-based iron ore miner, has been awarded new contracts recently which will allow it to scale up its construction and development work at Karara iron ore project. Karara is a joint venture project with the Chinese company Angang Steel Company Ltd. also known as AnSteel.
The new orders for Gindalbie will take the total commitments at Karara to $700 million. The company expects this figure to reach $1 billion in a few months. The construction of infrastructure at Karara is proceeding as scheduled.
The new contracts have been awarded to Gindalbie Metals Ltd. despite its public opposition to the recently proposed Resources Super Profits Tax or RSPT by the federal government. Garret Dixon, managing director Gindalbie feels this brings the benefits of the major mining project into a favorable light.