Fe Limited exercises option to lift JWD interest to 60% in strong iron ore market
“With our JWD operations progressing well and iron ore prices remaining high it was a simple decision for us to exercise our option to increase our JWD interest to give our shareholders further exposure to this exciting project,” says chairman. Earlier this week the company signed an offtake agreement with Glencore International AG.
Fe Limited (ASX:FEL) has increased its exposure to the producing JWD Iron Ore Joint Venture in Western Australia during a strong iron ore market by lifting its interest in the project to 60%.
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Fe Limited acquires option to boost equity interest in near-production JWD Iron Ore JV to 60%
Companies
Fe Limited acquires option to boost equity interest in near-production JWD Iron Ore JV to 60%
The company has paid a A$1 million refundable deposit to its joint venture partner to secure a three-month option to increase its equity in JWD from 51%. “We are pleased to have this option to grow our exposure to JWD,” says chairman.
Fe Limited (ASX:FEL) is seeking to lift its exposure to the near-production JWD Iron Ore Joint Venture in Western Australia by acquiring additional equity interest for a 60% stake.
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