The future of one of Australia's largest iron ore projects has been thrown into disarray, after a Chinese steel maker signaled its intent to withdraw funding from the ailing operation.
Gindalbie Metals' shares crashed this Tuesday after the company told shareholders it has been unable to confirm whether China's Ansteel is pulling funding from the giant, loss-making Karara magnetite project, which is in north-west Western Australia.
That comes as independent MP Nick Xenophon issues renewed calls for a Senate inquiry to examine allegations that large miners are intentionally forcing down the iron ore price.
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