OREANDA-NEWS. March 16, 2012. China interest in investing in iron ore projects in Australia has falling sharply due to its still weak ability to lessen the impact from the three mining giants even though approximately USD 1 billion has been spent on ore explorations and the building of port facilities and rails in that country.

There has been much delay and difficulty in joint venture projects such as Sino Steel's Midwest, CITIC Pacificбпs Sino Mine and Ansteel's Karara Mine, causing a huge surge in mining cost. 

An exception is Sino Steel's Fortescue Metals Group in Western Australia, which is now in a position to ship more than 50 million tons of iron ore per year.