New magnetite project

摘要

A high-level Chinese delegation recently took part in a ground-breaking ceremony at Asia Iron Australia's Extension Hill Magnetite Project in Western Australia. The delegation of investors and representatives from Chongqing, a city of more than 32 million people in central China, was led by Ling Yueming, a vice-mayor of the city. Chongqing Chonggang Minerals Development Investment (CCMD) last year acquired a 60% interest in the project for $280 million. The balance is owned by Hong Kong-based SIN OM Investments.