Century Iron Mines Corporation (TSX:FER) announced a joint venture agreement with WISCO International Resources Development & Investment Limited for the Attikamagen iron property.
As quoted in the press release:
The formation of the joint venture was completed further to the shareholders agreement dated December 19, 2011 between Century, Century Iron Ore Holdings Inc., WISCO International and WISCO Canada Attikamagen Resources Development & Investment Limited and Labec Century. The joint venture is structured as a shareholders’ agreement whereby WISCO Attikamagen will invest an aggregate of $40 million in consideration for a 40% interest in Labec Century. Today, WISCO International completed its initial $20 million investment through WISCO Attikamagen.