Stonehenge Minerals has announced an agreement with one of Korea's largest steel companies to establish a joint venture trading company.
Stonehenge Minerals has announced an agreement with one of Korea's largest steel companies to establish a joint venture trading company.
Perth-based Stonehenge said it had reached agreement with Korea's independent Yong Jin Specialty Steel Co to create a trading company that would be responsible for 100 per cent of the off-take of vanadium and molybdenum from Stonehenge's operations in Korea.
Stonehenge managing director Richard Henning said the agreement was the first formal step in a series of agreements between the company and Korean entities.
"It is vital that we continue to engage at the highest level with Koreans in both business and politics," Mr Henning said.
Stonehenge owns 100 per cent of the rights to four uranium projects in Korea, including its flagship Daejon project, which contains the largest uranium resource in South Korea.
Its stock was steady at 11 cents today.
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