Australian iron ore project puts brakes on Citic Pacific

State-backed steel-to-property conglomerate Citic Pacific on Wednesday said first-half net profit fell 18.6 per cent, blaming widening losses in an Australian iron ore project and an absence of non-recurring gains which had lifted earnings in the year-earlier period.

via Business feed http://www.scmp.com/business/companies/article/1296639/australian-iron-ore-project-puts-brakes-citic-pacific