CSM consolidated minerals limited

csm announcement

  1. 101 Posts.
    CSM - Company Announcement
    $gen0
    21 July 2003
    Part 1/1
    --------

    Consolidated Minerals joint venture with Fortescue

    Sydney - Monday - July 21: (RWE) - Consolidated Minerals Ltd
    today confirmed it would establish a 50/50 joint venture with Fortescue
    Metal Group Ltd to evaluate and develop the company's Mindy Mindy iron
    ore project in WA.

    Fortescue is a company associated with Mr Andrew Forrest and was
    formerly Allied Mining & Processing Ltd.

    Consolidated managing director Mr Michael Kiernan said: "Our
    initial work has indicated that Mindy Mindy has the potential to hose a
    significant iron ore resource.

    "Fortescue has developed a comprehensive regional iron ore
    strategy including the proposed financing and development of new rail
    and port infrastructure which has always proved an insurmountable hurdle
    for new entrants to the Pilbara iron ore business."

    Shares in Consolidated Minerals were up 1c to 69c this
    afternoon.

    ENDS
 
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.