WISCO confirms talks with Australian government on investment hurdles

Thursday, 15 Oct 2009

According to Mr Deng Qilin GM of Wuhan Iron & Steel Group Corporation that, the company is now communicating with Australian government about its investment of AUD 45 million in HawkNest iron ore project owned by Western Plains Resources Limited which was earlier blocked by local Defense Department saying that the project is located in the military restricted zones.

Mr Deng said that WISCO has dispatched a team work to communicate with related authorities and has been granted welcome support by local government. Now it is questing for the understanding and solution with the military and has not made any adjustment of the investment plan.

He said that "The central South Australia based HawkNest mine we are going to prospect is 200 kilometers away from the military base. The Defense Department has no standing reason for its disagreement. If the worst occasion occurs, we have to consult with WPG and work out an alternative."

(Sourced from MySteel.net)
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