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Golden West secures iron offtake deal
12-August-08
Written by Rebecca Lawson
Golden West Resources Ltd has entered into a 15-year offtake agreement with a Chinese steelmaker, which will also subscribe to nearly $27 million worth of shares for an 11 per cent stake.
The Osborne Park-based company will supply Hunan Valin Steel Tube & Wire Co Ltd with up to 4.5 million tonnes of iron ore each year from its Wiluna West project in the Mid West region.
Hunan is 33.02 per cent owned by steelmaking giant Arcelor Mittal and 33.92 per cent controlled by Hunan Valin Steel and Iron Group, with the public holding the balance.
Article continues...
12-August-08
Written by Rebecca Lawson
Golden West Resources Ltd has entered into a 15-year offtake agreement with a Chinese steelmaker, which will also subscribe to nearly $27 million worth of shares for an 11 per cent stake.
The Osborne Park-based company will supply Hunan Valin Steel Tube & Wire Co Ltd with up to 4.5 million tonnes of iron ore each year from its Wiluna West project in the Mid West region.
Hunan is 33.02 per cent owned by steelmaking giant Arcelor Mittal and 33.92 per cent controlled by Hunan Valin Steel and Iron Group, with the public holding the balance.
Article continues...
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