Friday, 19 Aug 2011
Aquila Resources Limited refers to the announcement by Red Hill Iron Limited that it has instituted legal proceedings against API Management Pty Ltd a company jointly owned by AMCI (IO) Pty Ltd and Aquila Steel Pty Ltd a wholly owned subsidiary of Aquila.
Aquila believes the substantive claims of Red Hill Iron Limited are without foundation and, having discussed the matter with its co-joint venturer AMCI, advises that API will vigorously contest the proceedings.
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