Chinese-owned steel producer Ansteel has confirmed an agreement to kick in $119 million to help Gindalbie Metals raise $209 million in additional funds required to develop the $2.57 billion Karara iron ore joint venture in the Mid West.

Chinese-owned steel producer Ansteel has confirmed an agreement to kick in $119 million to help Gindalbie Metals raise $209 million in additional funds required to develop the $2.57 billion Karara iron ore joint venture in the Mid West.