australasian resources outlines plan for the p

Australasian Resources Outlines Plan for the Pilbara

By Laurissa Smith

Thursday, 25/10/2007

Just three years out from its first shipment, iron ore hopeful Australasian Resources has revealed its well on its way to bringing China to the Pilbara.

Managing Director Andrew Caruso says the company's close ties with Chinese steel producer Shougang is proving to be a major factor in getting the Balmoral South project up and running, just three years out from producing its first shipment of ore.

Shougang has already committed 56 million dollars to a shareholding in Australasian Resources

"We offer an alternative for these Chinese steelmakers. They can come on board and have more influence over the development of these projects and therefore offer an alternative from just buying products from BHP and Rio. "

In this report: Andrew Caruso, Managing Director, Australasian Resources