IOH eyes majors to help develop Iron Valley deposit
Following its earlier agreement for ore transport from its Phil's Creek tenement with Rio Tinto, junior miner Iron Ore Holdings is confident it can set up a similar deal for the larger Iron Valley asset. Its resource has been newly estimated at 160 million tonnes. Rio, BHP Billiton and Fortescue Metals Group all have rail infrastructure in the area
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Grange taps China for growth funds
Chinese steel group Shagang will retain its stake of 47.1% in Grange Resources by taking its full entitlement in the latter's share issue. The Australian iron ore miner is seeking to source $A167m in fresh capital, and is just the latest player in the sector to capitalize on strong interest by Chinese parties in investing in iron ore assets. The price per unit is $A0.29 for the Chinese stakeholder and $A0.25 for others
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IMO this Fortescue deal with china will get the junors on its infrastructure and it ready made market for iron ore. Fortes
IOH eyes majors to help develop Iron Valley depositFollowing its...
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