IRON Road Limited has signed non-binding agreements with five significant Chinese steel companies aimed at progressing long-term iron ore supply agreements for the Central Eyre Iron Project (CEIP) in South Australia. The company believes the MoUs will underpin development of the CEIP.
METRO Mining has signed an MoU with Xinfa Group covering bauxite offtake from the Bauxite Hills project in on Cape York, Far North Queensland, about 95km north of the town of Weipa. Xinfa is one of the largest integrated aluminium companies in China with significant refining and smelting operations in Shandong, Guangxi and Xinjiang provinces. Xinfa is currently a 7.2% shareholder in Metro.
MMG Limited has approved the updated development plan for the Dugald River Zinc Project in northwest Queensland, Australia. The plan includes an annual mine production rate of 1.5 million tonnes, construction of a concentrator and annual production of approximately 160,000 tonnes of zinc in zinc concentrate, plus by-products, over an estimated 28 year mine life.
PRETIUM Resources has received final provincial and federal approval for its Brucejack Gold and Silver Project in northwest British Columbia, Canada. Advancement of the underground project has been assisted by the injection of US$81 million into the company by Zijin Mining Group which gave the Chinese group a 9.9% position in Pretium.