Chinese steel company to invest in SA
Thursday December 18, 2008, 10:44 am
Adelaide-based mining company Centrex Metals has announced a major Chinese steel producer is to take a half share in its South Australian mining tenements.
The Wuhan Iron and Steel Group will invest up to $180 million for the share in selected iron ore projects on Eyre Peninsula.
It will also take a strategic 15 per cent direct stake in Centrex, for around $10 million.
Centrex says the Chinese company will also work to jointly develop a deep water export port on Centrex-owned land near Tumby Bay, on Spencer Gulf.
LOOKS LIKE ADY HAS LOST ANOTHER OF IT CONTENDERS.
wisco
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