Subscribe to RSS feedCentrex seals $186m iron ore deal with WISCO
by
Sineva Toevai
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last modified
Jul 21, 2009 11:55 AM
Shares in Centrex Metals surged by 29% after it announced a joint venture with China's third biggest steel group, Wuhan Iron & Steel (WISCO), to develop iron ore in South Australia.
Under the terms of agreement, WISCO will pay Centrex up to $186m for a 60% stake in the joint venture which will see the parties develop two magnetite projects, located between Port Lincoln, Tumby Bay and Port Neill.
Shares of the...
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