NSL has executed a long term cooperation Heads of Agreement with China Metallurgical Mining Corporation (CMMC), a significant Chinese state owned company.
?? CMMC to receive a 10% equity stake in Kuja and Mangal and discounted off-take, with a floor price, from Kuja and Mangal, in return for US$10 million investment, and the commitment to provide up to US$100 million in funding for other projects
?? CMMC to provide US$100 million funding, by way of joint venture, to acquire and develop additional projects with a view to delivering NSL a JORC resource base of 100 million tonnes and a targeted production rate of 3 million tonnes of ore per annum*.
?? CMMC to provide testing, planning, design, fabrication, shipping, construction, commissioning and continued onsite technical expertise for a Beneficiation Plant for Kuja and Mangal with capability of 500,000MT/year output capacity.
somethings up???, page-10
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