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Vale makes first investment for Phase 1 of Canadian iron ore project-鑄件展-鑄件采購會-國際鑄件展-鑄造工業展-2025第二十五屆廣州國際鑄件產品及鑄造工業展會-巨浪展覽-The 25th China(Guangzhou) Int'l Casting Products ,foundry Industry Exhibition
3/17/2025 鑄件展-鑄件展會-casting expo-casting exhibition |
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Australian miner Cyclone Metals has announced that Brazilian iron ore miner Vale has paid funds of Us$6.3milion towards the Phase 1 contribution to the joint development of Cyclone Metal''s lron Bear iron ore project inCanada. Vale will allocate a total of US$18 milion in the first phase.Last year, the companies inked a memorandum of understanding for the development of the project,as SteelOrbis previously reported.
Cyclone Metals will receive the complement to the Phase 1 contribution in quarterly payments. "We areplanning a large driling program of 24,000 m between June and November this year," Paul Berend, CEo ofCyclone Metals, commented.
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