Australian Mining Shares News Murchison Metals (MMX)

Murchison Metals ASX MMXMurchison Metals (MMX) is an emerging iron ore and infrastructure group focused on Western Australia.

According to news reports, Murchison Metals (MMX) and Mitsubishi Corp have suffered a cost blowout at their Oakajee port and rail JV in WA.

The Australian said that capital costs at the project are estimated to have blown out to $6.7 billion, from $4.4 billion.

In response, MMX admitted that capital costs at Oakajee were likely to increase although estimates were indicative and subject to review.

MMX slumped 6.7% on the day, making it the worst performer on the stock market (ASX 200).

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