Australia-based miner CZR Resources Limited (CZR) has announced that its shareholders have approved the sale of its Robe Mesa iron ore project to North Mining Limited, Robe River Mining Co Pty Ltd., and Mitsui Iron Ore Development Pty Ltd. for approximately A$75 million.
The transaction is subject to regulatory approvals and is expected to be completed in the first quarter of the financial year 2025-26, potentially impacting the company’s operational focus and financial position.
Last year, the company decided to sell its Robe Mesa project for A$102 million to create funds for its other mining projects.
