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Alderon to partner with Chinese steelmaker Hebei
April 13 |
April 13 (Reuters) - Canadian exploration company Alderon Iron Ore Corp said on Friday it agreed to sell a stake in itself and its Kami iron ore project in eastern Canada to Chinese steel producer Hebei Iron & Steel Group [HEBEIH.UL} for C$194 million ($195.4 million).
Vancouver, British Columbia-based Alderon said the deal with Hebei will give the Chinese steelmaker a 19.9 percent stake in Alderon and a 25 percent interest in a newly formed partnership that will be established to own the Kami Project.
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