Hubei Province-based Chinese steelmaker Wuhan Iron and Steel Corporation (WISCO) has issued a clarification stating that it has not reached any substantial agreement so far with Canada-based Adriana Resources Inc. (ADI) for collaboration on an iron ore mining project in Quebec.
As previously reported, on November 18, Zou Can, vice director of the iron ore and non-ferrous resources division of WISCO International Resources Development and Investment Company, a subsidiary of WISCO, stated that a preliminary agreement had been reached with the Canadian miner in question regarding the Lac Otelnuk iron ore mine in Quebec.
The Lac Otelnuk iron ore mine has reserves of around 6 billion mt of magnetite iron ore with grades in excess of 30 percent Fe.