GINDALBIE Metals has signed a Memorandum of Understanding (MOU) with its joint venture partner, leading Chinese iron ore and steel company, Ansteel.
Under the MOU, the two groups will work together to target new resource development opportunities in Australia outside of the Karara Iron Ore Project.
According to Gindalbie Metals, the assets to be targeted will primarily be in the carbon steel materials sector, namely metallurgical coal, manganese, chromite and nickel, as well as downstream processing opportunities such as pellet plants and steel mills.
Gindalbie’s managing director, Garret Dixon, says the MOU with Ansteel marked another key step in the evolution of the long-term relationship between the company and China.
“This MOU potentially opens up an exciting new era of cooperation between our organisations where we work together to identify, acquire and develop new resource assets which complement the strategic focus of both companies,” Dixon says.
“We have already identified a number of attractive opportunities in the carbon steel materials space and we intend to step up our search for new projects over the months ahead.”
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