Australia-based Venture Minerals has announced that it has completed the sale of its wholly-owned subsidiary Venture Iron Pty, which owns the Riley Iron Ore Mine project located in Tasmania to Australian mining and energy company Goldvalley Brown Stone for $3 million.
The project has been on care and maintenance since 2021 so it would be more profitable for shareholders to sell it, as SteelOrbis previously reported. The company will allocate the earnings from the sale to advance its Jupiter earth project.
