Ivanhoe Mines To Sell Savage River Mine In Australia

摘要

Singapore-based diversified resources company, Ivanhoe Mines has agreed to sell 100 percent of the Savage River iron ore mine it operates through its subsidiary ABM in Australia to a subsidiary of Stemcor Holdings Limited of London, England. Peter Meredith, Chief Financial Officer of the company announced February 7 that it has entered into a definitive agreement to that effect. The purchase price is reported to consist of two initial payments totalling 21.5 US dollars million, plus a series of contingent, escalating-scale annual payments based on the annual Nibrasco/JSM (Japanese Steel Mills) pellet price.