CAPITAL MARKETS

Australasian seals its deal

AS CONTRACTS for the deconstruction of the failed Boodarie hot briquetted iron plant circulate, Australasian Resources is contemplating building its own HBI/DRI (direct reduced iron) plant after finalising its Balmoral South magnetite deal with Professor Clive Palmer’s Mineralogy group.

Michael Vaughan

Australasian seals its deal

The junior will issue Palmer with about 2.31 billion shares as consideration for the 1 billion tonnes of magnetite, making him Australasian’s major shareholder with a 76% stake. The transaction will go...

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