Steel's the Deal

Treadgold, Tim
November 2008
Forbes Asia;11/10/2008, Vol. 4 Issue 19, p14
The article reports that state-owned China Development Bank is planning to advance a $1 billion loan for the construction of a new iron ore mine in Australia. The Australians are providing access to the ore and the Chinese are providing the capital and debt to directly link a mine in one country with a steel mill in another. A similar joint venture between Anshan Iron and Steel Corp. and Gindalbie Metals to develop the Karara project near the Australian city of Geraldton is discussed.


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