Noble will market output from Mongolian jv, says Xanadu's Thornton
Noble Resources will market all coal, iron ore and ferro-alloys produced through its joint venture with Xanadu Mines in Mongolia, Xanadu’s executive chairman Brian Thornton told MB on Tuesday.
Noble Resources will market all coal, iron ore and ferro-alloys produced through its joint venture with Xanadu Mines in Mongolia, Xanadu’s executive chairman Brian Thornton told MB on Tuesday. The Australia-listed explorer and the Hong Kong trading house agreed the terms of the joint venture late last week in a deal that has given Noble a 9.9% stake in Xanadu and exposure to the fast-growing Mongolian mining industry. Under the deal, Xanadu will be responsible for providing the exploration impetus and most of the exploration staff, while Noble will be responsible for marketing the products from the joint venture, Thornton said. “Part of the attraction [of the deal with Noble] is that they can assist on marketing. The deal is that they would market coal, iron ore and ferro-alloys for us,” he said. The companies have not yet found assets to develop, but there are thought to be substantial tungsten...
Noble Resources will market all coal, iron ore and ferro-alloys produced through its joint venture with Xanadu Mines in Mongolia, Xanadu’s executive chairman Brian Thornton told MB on Tuesday. The Australia-listed explorer and the Hong Kong trading house agreed the terms of the joint venture late last week in a deal that has given Noble a 9.9% stake in Xanadu and exposure to the fast-growing Mongolian mining industry. Under the deal, Xanadu will be responsible for providing the exploration impetus and most of the exploration staff, while Noble will be responsible for marketing the products from the joint venture, Thornton said. “Part of the attraction [of the deal with Noble] is that they can assist on marketing. The deal is that they would market coal, iron ore and ferro-alloys for us,” he said. The companies have not yet found assets to develop, but there are thought to be substantial tungsten...
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