Australia-based
mining company Laconia Resources Limited has signed an agreement with Chinese conglomerate Sinoz
Mining Investment Group (Sinoz) regarding joint exploration of the Mooletar
iron ore project in Western
Australia.
According to the agreement, Sinoz will invest A$7.5 million ($7.65 million) within 24 months from the signing of the agreement. The Mooletar project has an exploration target of between 216 million mt and 264 million mt of
iron ore.
Laconia Resources is principally engaged in the exploration and development of gold and base metals in Western
Australia.