China’s Ansteel catches Gindalbie mange

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From The Australian:

Gindalbie Metals (GBG) last night suspended trading in its shares as it awaits the outcome of a review of the value of its shareholding in the Karara iron ore project, which is a joint venture with China’s Ansteel.

…The Chinese company is already on track to earn more than a 60 per cent interest in the project, as Gindalbie has had to rely on the Chinese steel giant to offer further financial support to meet its share of debt repayments on the joint venture project.

Lucky Ansteel:

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.