CSM - Company Announcement
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21 July 2003
Part 1/1
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Consolidated Minerals joint venture with Fortescue
Sydney - Monday - July 21: (RWE) - Consolidated Minerals Ltd
today confirmed it would establish a 50/50 joint venture with Fortescue
Metal Group Ltd to evaluate and develop the company's Mindy Mindy iron
ore project in WA.
Fortescue is a company associated with Mr Andrew Forrest and was
formerly Allied Mining & Processing Ltd.
Consolidated managing director Mr Michael Kiernan said: "Our
initial work has indicated that Mindy Mindy has the potential to hose a
significant iron ore resource.
"Fortescue has developed a comprehensive regional iron ore
strategy including the proposed financing and development of new rail
and port infrastructure which has always proved an insurmountable hurdle
for new entrants to the Pilbara iron ore business."
Shares in Consolidated Minerals were up 1c to 69c this
afternoon.
ENDS
CSM
cosmo gold limited
csm announcement
Currently unlisted. Proposed listing date: TBA
