M&A

New iron ore miner to emerge

AUSTRALIAN Aboriginal Mining Corporation is acquiring the Wonmunna iron ore project and has signed a mine gate sales deal with Fortescue Metals Group to get it into production by the end of the year.

 The Wonmunna project area

The Wonmunna project area

Privately owned AAMC has mandated PCF Capital to raise A$30-35 million in funding to allow the completion of the acquisition of Wonmunna from unlisted Ascot Resources. The terms have not been disclosed...

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