Russians gain majority control of Cape Lambert

RUSSIAN company Evraz has effectively won control of the Cape Lambert iron ore project, signing a “cooperation agreement” with the China Metallurgical Group (MCC) for the joint development of the project only days after it was sold by its namesake Australian company.

Russians gain majority control of Cape Lambert Russians gain majority control of Cape Lambert Russians gain majority control of Cape Lambert Russians gain majority control of Cape Lambert Russians gain majority control of Cape Lambert

Under the deal – which will require foreign investment review board approval – Evraz will jointly invest in the project development.