December 18, 2011 on: business, Mining

The Australian company FeOre LLC, which is exploring for iron ore in Mongolia, held an initial public offering (IPO) on the Australian Stock Exchange on December 15.

FeOre says the money will be spent on new exploration. The company has already said it has discovered a JORK reserve of 108 million tons of iron ore at its Ereeny project in Mongolia. The company believes that is sufficient to last for more than 20 years of production. The Ereeny project is located approximately 440 km from China and within a 1000-km radius of companies that account for a significant amount of Chinese steel production. FeOre plans to begin exporting ore within the next two years, and is also implementing an iron ore exploration project in Dornogobi aimag. Please note that this article has not been written, is not copyrighted and does not in any case represent the views or opinions of M.A.D. Investment Solutions or any of its affiliate individuals or companies. The article above is purely meant for information only to readers and does not constitute a legal or biding agreement in any way, shape or form. For contact and comments directly relating to the above article, please refer to the source as stated below.

SOURCE OF THIS ARTICLE : News.mn

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