UK-based iron ore company Alien Metals has announced that it will acquire an additional 39 percent interest in the Hancock and Brockman iron ore projects (Hamersley Iron Ore Projects) located in the Pilbara region of Western Australia from US-based Windfield Metals.
Once the acquisition is concluded, the company’s share of direct ownership of the licenses will therefore move to 90 percent.
Hancock Iron Ore Project is scheduled to commence production in 2023, as SteelOrbis previously reported.
As part of the transaction, Alien Metals has agreed to transfer its interest in the projects to its subsidiary Iron Ore Company of Australia Pty, which will become the manager of the projects.
