The Foreign Investment Review Board has approved ASX-listed Altona Mining’s joint venture (JV) deal with Chinese partner Sichuan Railway Investment Group (SRIG) over the Cloncurry project, in north-west Queensland.
Under a deal struck in February, SRIG, through its 50% held subsidiary China Sichuan International Investment Company (CSII) will contribute $213.5-million to the Cloncurry JV and will own 66% of the project, with Altona to contribute $25-million and hold a 34% share.
