- Australia is set to get a new A$5.6 billion (NZ$5.8 billion) iron ore project involving New Zealand’s billionaire Todd family.
Western Australia Premier Colin Barnett said Balla Balla Infrastructure Group would build the six to 10 million-tonne-a-year iron ore mine on the Pilbara coast between Karratha and Port Hedland.
The project, which is expected to create 3,300 jobs during construction and 910 jobs once operational, will also see a 162-kilometre railway linked to central Pilbara.
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The Todd Corporation, headed by chairman Geoff Ricketts, is involved in the multi-billion dollar project.