Ferrum, BVI terminate Moonlight JV agreement

Triple-listed Ferrum Crescent on Wednesday said the stalled farm-in and joint venture (JV) agreement between its Ferrum Iron Ore (FIO) subsidiary and Business Venture Investments (BVI) has been formally terminated. The parties had, under the JV agreement, sought to develop Ferrum’s Moonlight iron-ore project, in Limpopo, but BVI failed to complete the first phase of the project’s bankable feasibility study (BFS).