StockMarketWire.com - Mitsubishi Development Pty Ltd (MDP) has completed the acquisition of Murchison Metals' interests in Crosslands Resources, which is the owner of the Jack Hills iron ore deposit, and in the associated rail and port infrastructure project in the Mid West region of Western Australia (Oakajee Port and Rail or OPR).
Following completion of the transaction, MDP will support Crosslands and OPR in recommencing key activities, including finalization of feasibility studies and obtaining necessary approvals for the Projects.
When appropriate and in due course, MDP intends to introduce a suitably capitalized partner(s) or investor(s) to take up the interests acquired through the transaction.
Story provided by StockMarketWire.com
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