Hebei Iron & Steel Group Purchases 4.8Mtpa Iron Ore Concentrate

摘要

China's Hebei Iron & Steel Group Co., Ltd. signed a definitive subscription agreement dated April 13, 2012 with Canada's Alderon Iron Ore Corp.. Hebei will make a strategic investment into both Alderon and its Kami iron ore project in exchange for 19.9% of the outstanding common shares of Alderon and a 25% interest in a newly formed limited partnership that will be established to own the Kami Project. (TEX Report, April 17 issue)