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Mineral Resources completes Parker Range buy

30th August 2019

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – ASX-listed Mineral Resources has completed the A$20-million purchase of the Parker Range iron-ore project, in Western Australia, from fellow-listed Cazaly Resources.

In addition to the A$20-million cash payment for the Parker Range project, Mineral Resources has also agreed to a royalty of 50c for every tonne of iron-ore extracted and removed from the project, after the first 10-million tonnes.

The Parker Range project has a current reserve of 31.4-million tonnes targeting an iron-ore fines product grading of 56.4% iron, located some 400 km east of Perth.

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