News archive July 2011 INVESTMENT – WISCO pays $51 million
INVESTMENT – WISCO pays $51 million
Wuhan Iron & Steel Co (WISCO) has made its Aus$51 million anniversary payments as part of the joint venture with Centrex Metals covering the southern Eyre Peninsula iron ore tenements in South Australia.
The two payments made by WISCO include $26 million paid directly to Centrex as a second instalment for the purchase of 60% of the iron ore rights to the southern tenements and $25 million paid to the joint venture exploration account as the second instalment of its exploration work commitment.
The Eyre Iron Joint Venture between Centrex and China’s WISCO was signed in July 2010.
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