Wednesday, 01 Jun 2011
China based North Asia Resources Group has terminated its framework agreement for the purchase of two iron ore deposits in Mongolia, without revealing the reasons for its decision.
In August 2010, North Asia Resources Group signed a framework agreement to purchase two iron ore deposits in Mongolia at a cost of CNY 170 million. The total reserves of the two deposits amount to no less than 79 million tonne. (sourced steelguru)
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