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China's Shougang considering stake in Australian iron ore project - report
Sunday, November 04, 2007; Posted: 09:57 PM

BEIJING, Nov 05, 2007 Steelmaker Shougang Concord International Enterprises Co Ltd is considering investing in the 2.1 bln usd Balmoral South Iron Ore Project in the Pilbara region of Western Australia, the South China Morning Post reported, citing Shougang's deputy managing director Chen Zhouping.

"We're conducting a feasibility study. It is probable we'll directly invest in the project rather than our parent company, the Shougang Group," the Hong Kong newspaper cited Chen as saying.

If the feasibility study points to a viable project, Shougang could take a 50 pct stake and sign an agreement to buy all the iron ore output, he said.