Fox Resources has paid $100,000 for the 2 per cent net smelter royalty that was payable to De Beers Australia Exploration on Pilbara tenements under the access agreement.
Leederville-based mining company Fox Resources Ltd will explore and develop discoveries of all minerals except diamonds on the West Pilbara tenements of De Beers Australia, after signing an agreement with the giant.
POOR global market conditions for high-quality diamonds has forced the De Beers controlled Central Selling Organisation to cut back sales in an attempt to stabilise the market.
