CAPITAL MARKETS

IMX puts up $20M to give Chinese partner breathing space

IRON ore miner IMX Resources and its Chinese joint venture partner and biggest shareholder seem to have buried the hatchet after IMX agreed to provide a $A20 million short-term loan, secured against its Cairn Hill magnetite asset in South Australia, to the JV.

MiningNews.Net

IMX puts up $20M to give Chinese partner breathing space

It also is close to finalising long-term sales deals at higher prices than its current life-of mine contract with other parties for Cairn Hill magnetite. However, this remains subject to process testwork...

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