China's steel enterprises to discuss AU$1bln project with Aurox

July 20 MetalBiz--Aurox, an Australian iron ore company, is discussing AU$1Bbln cooperation project with China's steel enterprises.

"We are always discussing with many potential organizations in China," one branch of Aurox said in a interview but without giving the specific name of the steel mill.

Before this, the company has agreed on investment 6mln iron ore project with Hebei Iron and Steel Group, and expected the production will be put into at the end of 2009, and this is the second time China's enterprises invest to Aurox, after the Tianjin Rongcheng Steel Group bought 9% of Aurox's shares with AU$10mln.

In addition, in May 2009, Chengde Steel Group negotiated with Aurox to purchase it, but at last no transaction was concluded.