https://www.miningweekly.com

Mineral Resources completes Kumina buy

21st December 2018

By: Creamer Media Reporter

     

Font size: - +

ASX-listed Mineral Resources has wrapped up the acquisition of the Kumina iron-ore project from fellow-listed BCI Minerals.

The company reported on Friday that it had paid A$27-million of the total A$35-million price tag, with the balance to be paid in two instalments linked to certain milestones.

BCI said previously that it would use the proceeds of the sale to fast track the development of its Mardie salt and potash project.

The Kumina project, located in the West Pilbara region about 100 km south of Karratha, will enable Mineral Resources to continue to be a junior iron-ore producer and exporter. It has an inferred resource of 78.3-million tonnes at 59.1% iron at a 57% iron cut-off

Edited by Mariaan Webb
Creamer Media Senior Deputy Editor Online

Comments

The content you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION