ADY admiralty resources nl.
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  1. oskarjay02
    39 Posts.
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    18/12/08
    11:17
    Post #: 4618825
    Chinese steel company to invest in SA

    Thursday December 18, 2008, 10:44 am

    Adelaide-based mining company Centrex Metals has announced a major Chinese steel producer is to take a half share in its South Australian mining tenements.

    The Wuhan Iron and Steel Group will invest up to $180 million for the share in selected iron ore projects on Eyre Peninsula.

    It will also take a strategic 15 per cent direct stake in Centrex, for around $10 million.

    Centrex says the Chinese company will also work to jointly develop a deep water export port on Centrex-owned land near Tumby Bay, on Spencer Gulf.

    LOOKS LIKE ADY HAS LOST ANOTHER OF IT CONTENDERS.
    ADY Price at posting: 1.1¢ Sentiment: Sell Disclosure: Not Held
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    lightbulb Created with Sketch.  Great analysis
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