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Additional Information
Market: ASX
Sector: General Mining
Epic: .EMG
News: Latest news
Web Site: Emergent Resources
Other Articles: 18-02-201005-02-201031-01-2010

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Thursday March 11, 10:17Eco Animal Health Group: moves into US and China could be transformational

Aivlosin® now accounts for more than half of global sales for ECO. Sales in China during FY 2009 were more than 60% ahead of the previous year, and expectations for FY 2010 indicate similar progress.

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Thursday March 11, 07:27BP shells out US$7 billion for Devon Energy's assets in Brazil, Gulf of Mexico and Azerbaijan

In addition, BP will sell to Devon Energy a 50 percent stake in BP's Kirby oil sands interests in Alberta, Canada, for US$500 million.

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Tuesday March 09, 09:55Nidec Corporation adds third factory and laboratory in Dalian City, China

Nidec Corporation (NYSE:NJ), the Japan headquartered manufacturer of small-to-mid-size motors, fan motors, and pivot assemblies, is to expand its presence in China through the construction [...]

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Emergent Resources

Emergent Resources

Emergent Resources Limited (ASX: EMG) sees the present and foreseeable demand for resource commodities such as iron, base metals and precious metals remaining strong. The Company has successfully negotiated a joint venture to earn up to 80% equity (from De Grey Mining Ltd) of the potentially important Beyondie Iron Project and an option (subject to ASX listing) to acquire base metal, gold and uranium granted exploration licences and applications from Pandell Pty Ltd and Oakover Gold Ltd.

Emergent’s strategy is to effectively define and develop the company's Beyondie Iron Project exploration in conjuction with existing strong geological and structural association of lead-zinc and copper-gold mineralised targets.

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Friday, July 03, 2009

Investors cheer Emergent Resources' placement and Chinese JV for Beyondie Iron Ore Project

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Investors in Emergent Resources (ASX: EMG) are emerging with more cheer after EMG raised capital and inked a deal to develop the company's flagship Beyondie iron ore project.

Emergent raised $2.52 million via a placement of 6.3 million shares at 40 cents per share to sophisticated investors.  There is an attaching option for every two shares placed.

A non binding Memorandum of Understanding (MOU) was struck between Emergent and (state owned) China Metallurgical Investment Co Ltd (CMIC) for the development of Beyondie Iron Project in WA’s mid-west iron ore region.

The deal provides for AUD$200m funding from CMIC to achieve commencement of mining operations at Beyondie Project on a 50:50 Development JV basis. A placement of shares and an options to CMIC will raise an estimated AUD$4.9 million.

The deal aims to achieve the commencement of mining operations at the Beyondie Magnetite Project with an initial targeted production of 3Mtpa of magnetite concentrate.

The Beyondie Project is located in the northern region of the Mid West Iron Province in WA, immediately adjacent to the Great Northern Highway and Goldfields Gas Pipeline. The Company plans to develop the project into a long life, large scale, high grade magnetite mining operation, with potential shared rail and port infrastructure.

There is a three month due diligence period to begin within the next month.

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