06
Sep
03:43
GWR to finalise iron ore mining rights agreement
Australian mining firm GWR is moving to finalise a formal agreement on mining rights for its C4 Iron and JWD deposits, Kallanish notes.
This followed the receipt to date of AUD 10 million ($6.82m), comprising AUD 5m paid upon signing the binding term sheet with Gold Valley Iron Ore and AUD 5m being the additional payment for sundry plant and equipment, stores and C4 ore stockpiles.
The term sheet provides for the second tranche, an additional AUD 10m, to …
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