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Midwest deals with Sinosteel

SHARES in Perth-based iron ore explorer Midwest Corp retreated slightly this morning after last weeks big jump on the back of its agreement to establish a joint venture with leading Chinese State-owned trading house Sinosteel involving an off-take agreement and development of Midwest’s two major iron ore projects in Western Australia.

Jesse Riseborough
Midwest deals with Sinosteel

The stock was off 4.5% in midday trade after rising 25% to 55c on Friday. The agreement with Sinosteel covers the development of Midwest’s Weld Range haematite project and Koolanooka magnetite project...

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