MINING FINANCE
China’s Baosteel and its partner Aurizon have signed a memorandum of understanding (MoU) with Australian financial institution ANZ and the China Development Bank for the potential development of the West Pilbara iron-ore project.
Baosteel and freight transporter Aurizon acquired the West Pilbara project as part of its June takeover of then-listed Aquila Resources, in a deal that valued the takeover target at about A$1.4-billion.
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