Anglo American Could Earn 75% of WA Iron-Ore Project

Mining Weekly reported Anglo American (LON:AAL) will join the Earaheedy iron-ore joint venture and could earn a 75% interest in the project.

The market news is quoted as saying,

The Earaheedy JV between Vector and Cazaly covers an area in excess of 1 700 km², including a substantial strike extent of the iron-ore prospective Frere Formation.

Under the farm-in agreement, Anglo American would be allowed to complete an initial proof of concept programme over a 890 km² area, with a minimum of 7 500 m of reverse circulation or diamond drilling to be completed as due diligence, within 18 months.

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