WA Junior to Develop Iron Ore Mine

ABC News reports that West Australian junior miner Mindax (ASX:MDX) has struck a $52 million deal with a Hong Kong company to develop its Goldfields iron ore mine.

As quoted in the market news:

Under the deal, Hong Kong based Perpetual Mining will take a 51 per cent operational stake in Mindax’s Mt Forrest project.

The money will be paid as the mine reaches development milestones.

Click here for the full article in ABC News