Roy Hill to ship early?

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Gina’s newsletter may not report iron ore price collapses but the prospect of early shipments form Roy Hill makes a headline:

“Roy Hill’s staff morale is high, and the hardworking team hope to be able to bring the first shipment due September 2015, ahead of time”, Mrs Rinehart said.

The optimistic comments come despite the main engineering and construction contractor, Samsung C&T, winning a 46 day extension to its contract earlier this year.

That rather suggests being behind schedule.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.