Fox Resources has entered into an agreement with China "s largest privately owned nickel concern, Jinping HengHao Non-Ferrous Metals Ltd (Jinping) for the sale of nickel-in-concentrates that will be produced from Fox"s new Sholl B2 nickel deposit in the Pilbara, Western Australia .

Yunnan Tong Chang Long Industrial Trading Co, Ltd (YNTCL), the trading arm of Jinping has expressed a desire to provide financial support to the project so as to deliver maximum production as rapidly as possible.

YNTCL is planning to increase its current production by five times in the next five years and believes the supplies from Fox should fit well into this program.
Jinping chairman Mr Zhu, says the offtake agreement with Fox is mutually beneficial.
"We will be looking to take equity in this young and dynamic company which clearly demonstrates our commitment and confidence in Fox Resources," Mr Zhu says. "We are taking a long term view in this transaction and looking forward to a bright and profitable future for both of us."

Mr Zhu went on to say that Fox satisfied every criteria of a stringent profile the head office specified.

Fox still maintains a strong and growing relationship with Jinchuan Group and is pleased to have such strong support from China feeding its aggressive growth strategy.