Ansteel's Funding Plan Approved

The National Development and Reform Commission has approved Ansteel's plan to inject more capital into Karara Mining, a joint venture between Australia's Gindalbie Metals and its largest shareholder Ansteel (36.28 percent), in Western Australia.

The Karara Iron Mine has a proven reserve of two billion tons, and will be able to produce, once completed, eight million tons of concentrates per year.