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Australian - Mitsubishi may withdraw from iron ore port venture

The Australian without citing anyone reported that Mitsubishi Corp may pull out from a AUD 4 billion Oakajee Port & Rail Pty iron ore port venture with Australia’s Murchison Metals Ltd because of doubts on its economic viability.

The newspaper said that the iron ore has proven to be of lower quality than expected, making it more expensive to bring into production.

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