Australia-based Aquila Resources Limited has announced that it has decided to maintain its A$7.4 billion West Pilbara iron ore project on minimum expenditure for the remaining of the financial year 2012-13.
In December 2012, Aquila stated that its budgetary dispute with its joint venture partner AMCI was referred to arbitration in September 2012.
As SteelOrbis previously reported, Aquila revised the capital and operating cost for the project in question after the total project cost estimates increased to A$7.4 billion from A$5.8 billion.