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Century, Wisco form jv to exploit Canada's Sunny Lake

December 03, 2012 - 04:05 GMT Location: New York

KEYWORDS: Century Iron Mines , Wisco , iron ore , Sandy Chim , Suny Lake , joint venture

Canadian iron ore exploration company Century Iron Mines and Chinese steel company Wisco have formed a joint venture to exploit Century’s Sunny Lake iron ore asset.

The joint venture agreement indicates that Wisco will make an investment of $40 million into the Sunny Lake Project. Century will own 60% of the project and Wisco 40%. They will fund exploration expenses pro-rata...

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