China’s Hebei Steel to tap iron ore deposit in Nevada

May 23, 2011 | 05:09 PM |

Tags  Hebei Steel, China, iron ore, Nevada

SHANGHAI — China’s Hebei Iron & Steel Group Co. Ltd. has signed a framework agreement with Australia’s Richmond Mining Ltd. to jointly develop an iron ore mine in Nevada.

Under the terms of the agreement, the major Chinese steelmaker will raise $161 million for the development of Buena Vista Iron Project, Richmond Mining announced in a statement.....

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