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Yep...the Chinese are in the Pilbara...another deal....Chiese Railways getting set..nearology for FMS...

Interesting times for the Pilbara...the North west Pilbara Alliance is shaping as the 4th force in Ore ore..

Keep the shares tight!

BEIJING, Sep 08, 2009 (SinoCast Daily Business Beat via COMTEX) -- FRRAF | Quote | Chart | News | PowerRating --

Australian iron ore explorer FerrAus Ltd. and China Railway Materials Commercial Corp. lately signed a strategic cooperation agreement, upon which the Chinese railway materials supplier would buy a 12% stake in FerrAus.
The stake is worth about AUD 12.6 million, and both sides will jointly seek more iron ore exploitation opportunities in eastern Pilbara.

The opportunities, along with the current resources of FerrAus, are expected to offer financial support to supporting railway and port construction targeted at iron ore development.

China Railway Materials, headquartered in Beijing, is under the aegis of the State-owned Assets Supervision and Administration Commission of China. It wholly owns 20 subsidiaries, takes a controlling stake in more than 10 affiliates, and runs two overseas organizations and one material management college.

Its subsidiaries are located in such large and midsize cities as Beijing, Shanghai, Tianjin, Guangzhou, Harbin, Shenyang, Wuhan, Xi'an, and Chengdu. Its sales revenue and total assets separately stood at CNY 51.3 billion and CNY 19.1 billion in 2005.

Source: www.cnstock.com (September 08, 2009)

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