June 9th (Steel Guru) – JMB reported that Mitsui & Co’s mineral and metal resources unit will expand the iron ore interests to 1.5 times at annual 66 million tonnes in 2015 from now under the long term vision.
As per report Mitsui & Co’s mineral and metal resources will expands the iron ore and nickel interests through expansion of existing project while the unit increases aluminum and copper interests to more than double through new projects.
It plans JPY 160 billion of investment in fiscal 2008 ending March 2009 and keeps investing annual JPY 100 billion for the target.
May 27, 2008
May 27 (WA Business News) – Aurox Resources Ltd today released a response to media reports to clarify the relationship between the WA-based explorer and China’s state owned Chengde Iron and Steel Group.
The company said that media reports in Hong Kong and WA have reported that “China’s state owned Chengde Iron and Steel Group was in talks to buy a stake” in Aurox Resources Limited.
Aurox said in the announcement that Chengde Iron and Steel Group entered into a 15-year sales agreement for iron ore concentrate from the Company’s Balla Balla project in March 2007.
The company’s share register already includes RockCheck Steel Group Co. Ltd of China with approximately 8% of the issued capital of Aurox.
Aurox has held discussions in recent months with a number of parties concerning equity investment, including Chengde, and although those are ongoing there is no certainty that a transaction will be concluded.
The response followed a request to enter a trading halt by the company.