Tycoon's ECA dependent $10 billion mine faces finance delays

(Reuters, Sydney/Melbourne, 11 July 12) Loan financing for the Gina Rinehart's $10 billion Australian Roy Hill iron ore project in Australia is being held up by talks on capping construction costs, sources said, threatening to push the project back after delays caused by a legal feud in the mining magnate's family... The project, racing to come on line in late 2014 to beat a risk of iron prices sliding, is looking to raise between $6 and $7 billion in project financing, with more than half seen coming from export credit agencies in Japan, South Korea and China, four sources with knowledge of the deal said.