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Iron-ore slump halts work on Australia’s last big mine project

Slumping iron-ore prices have brought down the shutters on the last of Australia’s mining boom-era projects still on the drawing board, with partners calling time on the planned $5-billion West Pilbara Iron Ore project.

The proposed mine, a four-way partnership led by two of Asia’s biggest steel companies, would have added 30-million tonnes of iron-ore to an already oversupplied market facing slower-than-expected demand from China.