Cape Lambert says MCC gets China govt approval for Cape Lambert iron ore buy

July 10, 2008

July 10th (Quamnet) – Cape Lambert Iron Ore Ltd said MCC Mining (Western Australia) Pty Ltd, a subsidiary of China Metallurgical Group Corp, has received key Chinese government approval for the acquisition of the Cape Lambert’s Pilbara iron ore project for 400 mln aud.

“The receipt of Chinese government approvals means the sale is now essentially conditional on the approval of Cape Lambert’s shareholders,” said Ian Burston, Cape Lambert’s executive chairman.

Shareholders can consider approving the sale at a meeting scheduled for July 28, he said.

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