Emergent Resources has formed a new exploration and development company (NewCo) with Chinese company International Natural Resources (INR), which will seek ASX listing in 2012.
Emergent Resources says it is in advanced discussions with a number of Indian groups in relation to joint ownership of its Beyondie iron ore project in the Mid West.
Emergent Resources has scrapped its planned $200 million joint venture with Beijing China Metallurgical Investment for the Beyondie iron project in the mid-west.
West Perth-based Emergent Resources will pay De Grey Mining $700,000 less than originally agreed to acquire the remaining 20 per cent interest it doesn't own in the Beyondie Iron Project in the Mid-West.
Emergent Resources will seal a $205 million deal with a Chinese company next week that will pair the companies over the Beyondie iron ore project in the Mid West.
West Perth-based Emergent Resources will pay up to $6.8 million to De Grey Mining to acquire the remaining 20 per cent interest it does not own in the Beyondie magnetite iron project in the Mid West.
Iron ore hopeful Emergent Resources has entered a $205 million deal with a Chinese firm over the development of the Beyondie magnetite iron project in the Mid West.
