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Vale makes first investment for Phase 1 of Canadian iron ore project-铸件展-铸件采购会-国际铸件展-铸造工业展-2025第二十五届广州国际铸件产品及铸造工业展会-巨浪展览-The 25th China(Guangzhou) Int'l Casting Products ,foundry Industry Exhibition
3/17/2025 铸件展-铸件展会-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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