Iron Investing News » Emergent Resources’ and CMIC JV Approved

Emergent Resources' and CMIC JV Approved

May 17, 2010 @ 9:20 pm In Iron Company News

Foreign Investment Review Board ^[1] (FIRB) has approved Emergent Resources Pty Ltd's A$200-million joint venture (JV) with China's Beijing China Metallurgical Investment Company (CMIC) on their Western Australian Beyondie iron-ore project.

The target for this project between 3,7-billion and 4,2-billion tonnes of iron-ore, grading at between 27% and 28% iron outside the existing resource area.

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[1] Foreign Investment Review Board: http://www.treasury.gov.au/content/foreign_investment_review_board.asp?ContentID=358&titl=Foreign+Investment