Terry Streeter’s Fox Resources said today it was discussing joint venture options for its Mount Oscar magnetite iron project in the Pilbara with “a number of state -owned and private Chinese steel mills”.
“These discussions are ongoing and have resulted in some of these potential joint venture partners initiating due diligence,” the company said in a statement to the Australian Securities Exchange.
Fox has an initial inferred resource estimate of 72 million tonnes grading 34 per cent iron.
It has an off-take agreement with Jinchuan Group, China’s biggest nickel producer, which is also a major shareholder.
Source: The West Australian
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