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Posco gets gov't Ok for Australia iron ore rail   

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af.reuters.com

 

SYDNEY June 24 (Reuters) - South Korean steel group Posco (005490.KS: Quote) and Australia's Hancock Prospecting on Thursday were granted state government approval to construct a 300km railway to haul across the West Australian outback for export to north Asia.

The two companies are jointly seeking to develop the Roy Hill iron ore deposit, with plans to ship its first ore in 2014 at an annualised rate of 55 million tonnes from Western Australia state's Port Hedland. (Reporting by James Regan)

 

 
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