Australian iron ore miner, Gindalbie Metals and its Chinese shareholder Anshan Iron and Steel Group (Ansteel), have taken their co-operation a stage further with a deal to develop metallurgical coal, manganese, chromite and nickel projects, and pellet plants and steel mills in Australia.
Gindalbie and Ansteel currently co-operate on an iron ore project at Karara in Western Australia.
"The assets to be targeted will primarily be in the carbon steel materials sector ... as well as downstream processing opportunities such as pellet plants and steel mills," Gindalbie said in a statement on Wednesday.
The statement added: "Ansteel will contribute its extensive experience as a global iron ore and steel company and access to capital to potential joint development opportunities which can provide it with long-term sources of supply of raw materials from Australia. Gindalbie will contribute its geological and resource project expertise, contacts and knowledge base within the Australian resource sector to actively identify, explore and develop quality resource projects."
Gindalbie managing director, Garret Dixon, said the two partners had already identified several opportunities and will be stepping up their search in the months ahead.
Last year Ansteel and the West Australian government agreed to undertake a feasibility study to construct the state’s first steel mill at the Oakajee industrial estate near Geraldton, which is centred on a new deep water export port. Land clearing for the project is well advanced and exports are slated to commence in 2011.
Ansteel is Gindalbie's largest shareholder with a 36.2 per cent stake.
No comments:
Post a Comment