Cape Lambert shares halted as $400m project sale finalised
6th August 2008, 8:15 WST
Cape Lambert Iron Ore has entered a trading halt as the company finalises the $400 million sale of an iron ore project to China Metallurgical Group Corp (MCC).
The project is located in the Pilbara region of Western Australia and contains a 1.56 billion tonne resource of low grade magnetite iron ore.
MCC has formed a partnership with Evraz Group SA, Russia’s second largest steelmaker, to develop the project.
Evraz holds a 19 per cent stake in Cape Lambert Iron Ore.
AAP
Cape Lambert shares halted as $400m project sale finalised6th...
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