hebei buys in

At last, what we have all been waiting for, I had a feeling it would be this week

NewsWednesday, 22 Jul 2009

Chinese steel mills to discuss AUD 1 billion project with Aurox
Wednesday, 22 Jul 2009
MetalBiz reported that Aurox an Australian iron ore company is discussing AUD 1 billion cooperation project with China's steel enterprises.

One branch of Aurox said in an interview but without giving the specific name of the steel mill that "We are always discussing with many potential organizations in China."

As per report, before this, the company has agreed on investment 6mln iron ore project with Hebei Iron and Steel Group and expected the production will be put into at the end of 2009 and this is the second time China's enterprises invest to Aurox after the Tianjin Rongcheng Steel Group bought 9% of Aurox's shares with AUD 10 million.

(Sourced from MetalBiz)