hebei steel seeks to finance aurox project, page-5

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Aurox, WPG eye Chinese financing


Qingdao 24 October 2008 09:27


Australian iron ore hopefuls Aurox Resources and Western Plains Resources (WPG) want to deepen their Chinese partnerships to boost project financing. "The recent financial crisis has made all banks very cautious about financing... so we are approaching Chinese steel mills as well, for financing in exchange for project partnership," Aurox md Charles Schaus told MB at Cisa's 8th China International Steel & Raw Materials Conference in Qingdao city, Shandong province. Both Aurox and WPG want Chinese mills to not just sign off-take deals but to become project partners. "We hope that Chinese steel mills will take all of our iron ore output but we are seeking not only a buyer-seller relationship, but partnership with the Chinese steel mills, which can co-invest in our iron ore projects," said WPG Ore Marketing executive director Myles Fang. WPG,...



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