The Sinosteel MD, David Sun, was talking China-Canberra tensions...

The Sinosteel MD, David Sun, was talking China-Canberra tensions in yesterdays AFR. There was an interesting few paragraphs about the (non binding) MOU signed with BCI.

Extract follows -

Sinosteel and Rio Tinto extended their historic Channar mining joint venture late last year.

The third extension since the deal was first done in 1987 was for an additional 10mil tonnes of IO delivered into the JV from WA. It increased the life of the JV to cover total production of 290mil tonnes.

Rio Tinto iron ore chief executive Chris Salisbury has hailed the JV as one of Australia's most significant trading partnerships and credited it with paving the way for Rio Tinto's strong relationship with China.

With Channar approaching the end of its mine life, Sinosteel has signed a non-binding MOU with BCI Minerals on a potential second JV in WA.

The MOU relates to BCI's Buckland project, which covers proposed mines in the west Pilbara and a new port.

Sinosteel is also an off-take party in a 3way, 1.5mil tonne raw lithium deal involving Atlas Iron and Pilbara Minerals.


Assuming Kumina develops as hoped and builds the development case for an integrated Buckland/Kumina mine, Sinosteel's ultimate involvement will be very interesting.

At least it would appear BCI has options.......