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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