Jiangxi backs Chilean iron tailings project

JIANGXI Resources is providing financial support for ASX-listed Condor Blanco Mines as it develops the Marianas Iron Tailings Project in northern Chile. In July Jiangxi indicated it would commit up to Aus$1 million to Condor, in October it invested $310,000 in a private placement and it has also signed a new binding term sheet to provide up to another $5 million to further develop and in due course expand production.

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Jien assists Northern Sun in restructuring

NORTHERN Sun Mining Corporation, formerly Liberty Mines, and its largest shareholder Jien International Investment Limited, are implementing a turnaround plan involving various restructuring activities to re-position the company as a near-term gold producer in Canada. Forbes & Manhattan is assisting with the restructuring which involves a private placement aimed at raising up to Can$30 million.

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Rum Jungle and CICCC sign MoU

An MoU has been signed in Beijing between Rum Jungle Resources and China International Chemical Consulting Corporation (CICCC), a branch of China Petroleum and Chemical Industry Federation which is involved in more than 70% of China’s chemical industry through its organizational structure providing consulting and engineering skills to projects. CICCC has business throughout China and in more than 20 overseas countries.

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Funds commitment for Mengo Potash Project

TSX-listed MagIndustries Corp has received a letter of commitment (LOC) from China Development Bank (CDB) related to the majority of funds required to complete construction of its proposed 1.2 million tonnes/annum Mengo Potash Project in the Republic of Congo.

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