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Cape Lambert Iron Ore Ltd - 21/03/2006

Has signed a Memorandum Of Understanding (MOU) with Chinese steel company Sinosteel Corporation for the development of, and off-take from, the Cape Lambert Iron Ore Project located in the Pilbara region of Western Australia. As part of the MOU, Sinosteel and Cape Lambert would negotiate a commercial agreement to purchase up to 100% of the off-take from the Cape Lambert Iron Ore Project, expected to be in the range of five to ten million tonnes per annum.

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