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MBMI Resources Enters Strategic Relationship with Chinese Steel Producer.
- Article from:
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Canadian Corporate News
- Article date:
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October 3, 2005
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Copyright informationCOPYRIGHT 2005 Canadian Corporate News. News Provided by Comtex. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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VANCOUVER, BRITISH COLUMBIA, Oct 3, 2005 (CCNMatthews via COMTEX) -- MBMI RESOURCES INC. (TSX VENTURE:MBR) "MBMI" is pleased to announce it has reached an agreement with Zhejiang Huaguang Smelting Group Co. Ltd. ("HGMG") to invest in its Bethlehem and Alpha nickel projects in the Philippines. Under the terms of the agreement, formal transaction documents are expected to be completed within 35 days. HGMG will invest US$4 million for a 16% interest in the projects. HGMG has an option for 60 days after closing to increase its interest in the projects to 20% by investing an additional US$1 million. These funds will be used for the continued exploration and the development of the ...
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