Australia's Aldoga Smelter bets on China funds

Aldoga Aluminium Smelter is banking on Chinese capital and engineering to get its aluminum smelter project back on track. The company reduced its cost estimate to A$1.5 bn. The studies on 420ktpy smelter are expected to be ready next month and financing in October-November, allowing construction to begin by year-end, first production two years later, and full capacity in late 2008. (Dow Jones Newswires - 05/17/05)