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JAPAN'S SOJITZ TAKES 30 PCT STAKE IN AUSTRALIA'S GRANGE.

AsiaPulse News

| June 01, 2007 | COPYRIGHT 2007 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

SYDNEY, June 1 Asia Pulse - Miner Grange Resources Ltd (ASX:GRR) will have Japanese iron ore company Sojitz Corporation (TSE: 2768) as a 30 per cent joint venture partner in their Southdown iron ore project, the company announced today.

The company said the arrangement would support the final stages of implementing the Western Australian project through the final environmental approvals, detailed engineering and design and project funding arrangements.

The project is expected to begin production in 2010 at a rate of 6.8 million tonnes of iron ore pellets a year over 22 years, with capital costs of $A1.43 billion ($US1.18 billion) and annual revenues of around $A850 million ($US702.4 million) based on current iron ore ...

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