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Aquila Says Chinese Mills Seek Stake in A$3.9 Billion Ore Mine

– Aquila Resources Ltd., controlled by Australian billionaire Tony Poli, said Chinese steelmakers are interested in buying a stake in a proposed A$3.9 billion ($3.8 billion) iron ore project to secure supplies of the raw material.“There is as lot of interest in off-take, in equity participation in the project,” in the Western Australian project, Poli, chief executive officer of the Perth-based company, said today in a phone interview. Aquila also produces coal in the Bowen Basin in Queensland state.

Chinese companies are snapping up mining assets in Australia to ensure supplies for the world’s fastest-growing major economy

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