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Atlas Iron defers Ridley investment call as ‘onerous’ approvals slow Gina Rinehart’s foray into magnetite
Hancock Prospecting has deferred part of its plans to tap into the WA magnetite market and delayed a final investment decision on its proposed Ridley mine, pinning the move on approvals uncertainty and water supply.
For the past two years, Gina Rinehart-owned Hanroy has been undertaking studies for its smaller, sister business Atlas Iron to potentially make a mine of the Ridley magnetite deposit east of Port Hedland.
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