Australian miner Coziron Resources Limited announced on January 2 that it has entered into agreements to acquire three significant and key tenement interests in Western Australia for a value of A$15 million.
The acquisition of the projects will be subject to shareholder approval, which is anticipated to be put to shareholders during February 2012.
According to the company's statement, the tenements are highly prospective for significant iron ore as haematite and/or magnetite, titaniferous vanadiferous magnetite and manganese ore resources. The key Midwest and Pilbara tenements are exceptionally well located in respect of existing and planned infrastructure.
When the acquisitions will be completed, Coziron plans to fast-track exploration and project development to become an integrated supplier of raw materials to steel producers.