CAPITAL MARKETS

Arctic Platinum put on ice

SOARING mine-development costs have claimed their latest victim with South Africa’s Gold Fields mothballing its ambitious Arctic Platinum project in Finland following a 66% hike in capital requirements.

Tim Treadgold
Arctic Platinum put on ice

The rise from an initial project development estimate of $US300 to $US500 million in little more than a year was described as an example of costs “spiralling out of control” and “a ridiculous increase”...

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