Grange Resources Ltd will pocket more than $13 million in cash after it agreed to sell a 30 per cent stake of its Southdown magnetite iron ore deposit to Sojitz Resources and Technology Pty Ltd.

Grange Resources Ltd will pocket more than $13 million in cash after it agreed to sell a 30 per cent stake of its Southdown magnetite iron ore deposit to Sojitz Resources and Technology Pty Ltd.