A cloud hangs over New Zealand business giant Todd Corporation's iron ore ambitions in Western Australia with one company under its control moving to de-list from the ASX and another stalling on what was spruiked as a $6 billion mine, rail and port project.
Todd Corp-controlled Flinders Mines announced on Thursday that it planned to de-list from the ASX in a move set to rile some minority shareholders despite warnings about the development prospects for its low-grade iron ore project in the Pilbara.
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Brad Thompson writes across business and politics from Western Australia for The Australian Financial Review. Brad is based in our Perth bureau. Connect with Brad on Twitter. Email Brad at brad.thompson@afr.com
