Chinese may take stake in WA mine project 9th June 2009, 12:45 WST
Junior iron ore explorer Apollo Minerals is seeking a strategic Chinese investor for its Mt Oscar project in WA's Pilbara region.
The company is on a roadshow in China and executive director Richard Sealy said it had been encouraged by strong interest from several major Chinese parties.
Apollo said Chinese investors could either take an equity stake in the company or buy into the Mt Oscar project.
"Several of the parties with whom Apollo had positive discussions have indicated that they could be interested in a combination of both," the company said.
"This interest has been heightened by the recent breakdown of the Rio Tinto/Chinalco proposal and projects such as Mt Oscar are now becoming targets as Chinese parties move to strengthen their interests in iron ore resources," Mr Sealy said.
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