(MENAFN) Mining giant Glencore Xstrata said it had put its USD7 billion project on hold as surplus is damaging prices, The Peninsula reported.
The Switzerland-based commodities firm said that the huge Queensland project has frizzed now.
A Glencore Xstrata spokesman said. "A considerable amount of capital and human resources have been invested in the project to date and we consider it a valuable asset and important future option."
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