What do Australians know about Cape Preston? Honestly what do we know about it? I googled it and found this:
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Sino Iron Project
Resources company Austeel was granted permission to build an iron ore operation in the area in 2003 following environmental approval being given by then minister Judy Edwards. Construction of the operation was to commence in late 2004.
A contract was awarded to develop the mine to a Chinese company, China Metallurgical Group Corp, in 2007. The project was estimated to cost $1.98 billion, including a magnetite mine, a seawater desalination plant, a thermal power plant and port facilities.
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As of 2016, the project is owned by Hong Kong-based CITIC Limited and according to the company represents “one of China’s largest investments into the Australian resources sector”. . . .