August 30, 2008

Hunan Nonferrous buys into Australian metals project

Metals Insider reported that China’s Hunan Nonferrous Metals Holdings Group, which controls 10 operating companies in the province of Hunan including the Zhuzhou zinc lead producer, has signed a letter of intent with Australian junior Abra Mining to participate in the latter’s Abra lead copper zinc project in Western Australia.

Hunan Nonferrous will take a stake in Abra, fund a feasibility study on the project and provide financing for the project through to start up if a go ahead decision is made.