Fox in talks with Chinese steel mills

Fox Resources says it is in talks with a number of Chinese steel mills over a potential joint venture deal for its Mt Oscar magnetite iron ore project in the Pilbara.

The discussions with both state-owned and private steel mills are still ongoing and in some cases, potential partners have started due diligence, Fox said.

"No further details regarding these discussions can be released at this time as those discussions are confidential and incomplete and may or may not result in any agreement being concluded," the company said.

Fox is developing Mt Oscar as a stand alone project following a positive scoping study.

The company last week unveiled plans to raise $13.1 million with funds to be applied to ongoing exploration programs and processing tests at the Radio Hill nickel project.