On October 31 Canadian mining company Century Iron Ore Holdings Inc. announced that it has signed an agreement to extend the signing dates with Chinese steel producer Wuhan Iron and Steel Co. (WISCO) for the individual definitive business venture agreements with respect to the Duncan Lake, Sunny Lake and Attikamagen iron‐ore projects in Canada.
As SteelOrbis previously reported, the initial project was contemplated by the joint venture agreement dated August 30, 2011.
WISCO Resources and Century Iron denote that in view of the scale and the complexity of the projects and the substantial investment to be made by WISCO Resources in the projects, additional time is required to complete the finalization of the project agreements. The parties have agreed to an extension of the signing dates for the project agreements until November 29, 2011.