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Article: Emergent Resources Limited (ASX:EMG) Due Diligence Successfully Completed For A$200 Million CMIC JV For Development Of Beyondie Iron Project
- Article from:
- abnnewswire.net
- Article date:
- October 15, 2009
- Author:
CopyrightCopyright 2009 ABN Newswire. (Hide copyright information)
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Emergent Resources Limited (ASX:EMG) is pleased to announce that Chinese State Owned Enterprise (SOE) China Metallurgical Investment Co Ltd (CMIC) has successfully completed its Due Diligence on its proposed Development Joint Venture for Emergent's Beyondie Iron Project in Western Australia's Mid-West Iron region.
On July 3, 2009, Emergent announced that it had entered into a commercial in-confidence nonbinding Memorandum of Understanding (MOU) with CMIC for the development of the Beyondie Iron Project, subject to the satisfactory completion of due diligence and completion contracts, to achieve the commencement of mining operations with an initial targeted production of 3Mtpa of magnetite ...