Australian iron ore prospector United Minerals Corp has agreed a supply and equity deal with China Railway Materials Commercial Corp, it said on Tuesday.
Under the deal, United would supply 3 million tonnes of ore a year for 10 years, with China Railway Materials taking A$27 million ($23 million) in United shares.
United said the deal would allow its iron ore deposit in Australia's Pilbara region to move towards production.
Source: Reuters
No comments:
Post a Comment