WISCO to strive for exploiting Australia iron ore

November 4 MetalBiz--Deng Qilin, general manager from WISCO said on November 3 that WISCO is negotiating with Australian Government on investing AU$ 45mln in WPG' s HawkNest iron ore project. Previously Austria's Ministry of National Defense didn't support WISCO to exploit HawksNest project on the grounds that the project located in the military restricted area.

Deng Qilin stated that WISCO has sent a working group to coordinate with relevant departments. The local government expressed their supports for this deal and WISCO would seek for military understandings to properly resolve. Until now, there is no plan to modify the dealing plan." HawkNest is 200 kilometers away from the military base, and there are three projects in development in the same region, so the opposing reason of Ministry of Defense is insufficient. Deng also unveiled that WISCO has obtained the local government's support for the iron ore project in Madagascar and is tendering on the exploitation right. The project reserves nearly 580mln tons of ore and needs to explore further. It is estimated to put into production 3 years later.