Premier Colin Barnett has furthered his Chinese investment intentions for WA, today witnessing the signing of a letter of intent between Asia Iron, which holds a Mid West iron ore project, and Chongqing International.
Premier Colin Barnett has furthered his Chinese investment intentions for WA, today witnessing the signing of a letter of intent between Asia Iron, which holds a Mid West iron ore project, and Chongqing International.
Part of the announcement is below:
Extension Hill Pty Ltd Chinese investment in the Mid-West
Premier Colin Barnett today witnessed the signing of a letter of intent between Extension Hill Pty Ltd [Asia Iron] and a Chinese investor group comprising Chongqing International (Holding) Ltd. for Economic and Technical Cooperation and Chongqing Iron and Steel (Group) Co., Ltd.
The letter provides a framework for the negotiation of product offtake, equipment supply and financing by the Chinese investment group.
These relate to Extension Hill's proposed magnetite mine located near Geraldton, which will be a major user of the Oakajee Port.
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