Australia's Centrex signs deal to supply iron ore to Chinese steel companies |
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Published
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Wed, 30 May 2007 06:11
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SYDNEY (XFN-ASIA) - Centrex Metals Ltd said it has signed binding heads of agreement with China's Shenyang Orient Iron & Steel Co Ltd and Baotou Iron & Steel (Group) Co Ltd to supply hematite type iron ore from the company's Wilgerup iron ore deposit in South Australia.The yet to be developed Wilgerup deposit is located in the central Eyre Peninsula close to rail and port infrastructure.Centrex reported in July that an agreement in principle had been entered into for the Chinese companies to purchase Wilgerup ore .It said under each heads of agreement, Shenyang and Baotou have committed to purchasing one mln metric tons of hematite ore per year for five years with the price agreed as the long-terminternational benchmark price.bruce.hextall@xfn.com
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China steelmakers will take steps to avert trade frictions - trade assn 