Ferrexpo to begin partner talks on USD 5 bln development project
10 June 2008
Ferrexpo (FXPO LN: HOLD) CEO Mike Oppenheimer said that the company will begin formal talks later this week with potential partners on a USD 5 bln project to develop its Yeristovskoe and Belanovskoe deposits, in an interview with the Financial Times today. Among the companies named were Rio Tinto, Anglo American and steelmakers Arcelor Mittal and Viestalpine. JPMorgan Cazenove is managing the process. Ferrexpo plans to conclude an agreement with a partner by the end of 2008.
