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Midwest has signed a Joint Venture Agreement with Sinosteel – one of China 's largest commodities trading houses.
The joint venture covers Midwest's two major projects, the Weld Range Haematite project and the Koolanooka Magnetite project, allows for joint implementation of exploration, feasibility studies and an off-take agreement.
The Joint Venture Agreement became unconditional in January 2006 with the granting of approvals for the joint venture from the Chinese Government and the Foreign Investment Review Board.
Sinosteel is an internationally regarded Chinese corporation. It is a central enterprise under the administration of the State-Owned-Asset Supervision and Administration Commission and one of China's largest and most influential companies with assets exceeding $US 50billion.
The corporation is active in the development, mining, and processing of metallurgical mineral resources, trading research, and logistics. It has a global sales network and logistics system.
For further informationon Sinosteel Corporation, please see its english language website at en.sinosteel.com
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