The Conversation (0)
Magnis Resources (ASX:MNS) has signed a memorandum of understanding with China Railway 24th Bureau Group Co. to enter formal negotiations to secure a contract for engineering, procurement, construction and contract mining for the Nachu Graphite Plant. The proposed value of the contract is US$150 million.
As quoted in the press release:
Next steps are a site visit and negotiations for the signing of contracts. All parties are aiming for project development commencement in 2015.
Magnis chairman, Frank Poullas, said:
Having a partner, China Railway 24th Bureau Group Co., Ltd., a key member of CRCC which is one of the largest and most recognised engineering and construction companies in the world with over 200,000 employees is further testament of the quality of our Nachu Graphite Project. With binding offtakes totalling 180,000tpa with Sinosteel and SINOMA and now with the MOU signed with China Railway 24th Bureau Group Co., Ltd., the Nachu project is going from strength to strength.
Click here to read the Magnis Resources (ASX:MNS) press release
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