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          Australian mineral explorer teams up with Chinese company
          


          (Xinhua)
          
 Updated: 2010-01-25 14:48
          


          


          

          



 

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          Australian mineral explorer Venus Resources Ltd announced on Monday it had entered into share subscription and joint venture deals with a Chinese entity.
          


          Venus recently expanded its exploration focus to identify world-class iron ore, precious metals, uranium and base metal exploration targets within prospective, mineral-rich orogenic belts of Western Australia.
          


          

          


          


          


          


          


          


          Related readings:
          
           Australian mineral explorer teams up with Chinese company China approves coal mining company's bid for Australian Felix
          
           Australian mineral explorer teams up with Chinese company Australian company secures deal with Chinese steel mill
          
 Australian mineral explorer teams up with Chinese company CITIC up almost 10% on news of Australian project ore sale
          
          		

          
          

          
          		

          
          

          
          		

          
          

          

Venus will raise A$4 million ($3.6 million) through a placement of 2 million shares at A$2 a share to HD Mining & Investment Pty Ltd, a subsidiary of Shandong Provincial Bureau of Geology and Minerals.
          


          This will give HD Mining a stake in Venus of about 7 percent.
          


          HD Mining will also take a 50 percent stake in Venus' Yalgoo iron ore project in Western Australia.
          


          The deals are subject to approval by Australia's Foreign Investment Review Board.
          



          



 

          

          



 



 

          

          



 

          


 

          
           



          


 

          


          


 

          


          




          


          

          



          


          


          

          





          


 

          


          


 

          


          


 

          


          


 

          


          

          

          
           
          

          










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