CHINA ARMCO METALS ACQUIRING STAKE IN AUSTRALIAN IRON ORE COMPANY

作者:25 发布时间:2010-06-10 文字大小:【大】【中】【小】
China Armco will take a 19.9 percent stake in Apollo Minerals.

China Armco Metals Inc. has agreed to acquire up to a 19.9 percent stake in Apollo Minerals Ltd., an Australian iron ore exploration company, for about $3.6 million.

Apollo owns the exploration rights of two mineral developments in Western Australia that contain significant iron ore deposits.

 

Additionally, Apollo has agreed to give China Armco the off-take rights to no less than 15 percent of the iron ore production from one of its projects.


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