19
Jun
02:46
Macarthur grants Lake Giles iron ore mining rights
Australian miner Macarthur Minerals has granted Gold Valley Yilgarn the right to extract hematite ore from its Lake Giles Ularring hematite project in Western Australia, Kallanish notes.
Macarthur says in a statement that it has executed a binding term sheet with Gold Valley.
Under the deal, Gold Valley will pay a total of AUD 750,000 ($499,789) to Macarthur by December.
Macarthur will also get AUD 10 million of royalty from the extraction and sale of 2…
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