Grange Resources denies shelving of Southdown project

Australia-based magnetite iron ore pellet producer Grange Resources has denied media reports which have claimed that it is shelving its Southdown magnetite project in Western Australia, stating that no such decision has been made.
 
According to Grange Resources, all tenements, permits and project assets will continue to be maintained in good order and the company continues the process of seeking an equity partner for a strategic share of its interest in the project.
 
As SteelOrbis previously reported, Grange Resources has significantly reduced its share of budget expenditure on the Southdown project for 2013 and has reduced the size of the Southdown project team.