Proactiveinvestors recommends

Additional Information

Market:	ASX
Sector:	General Mining
EPIC:	MSC
Latest Price:	0.03 (0.00%)
52-week High:	0.24
52-week Low:	0.01
Market Cap:	8.59M

1 year chart

1 day chart

Minerals Corporation Ltd
Minerals Corporation Group is a fully integrated minerals group whose activities include the mining, processing and marketing of industrial minerals including calcined and hydrous kaolin (also known as china clay) products. MSC has commissioned a world class china clay (kaolin) project at Skardon River, in northern Queensland which is currently in the marketing roll out stage. Additional kaolin projects are being developed in China and Western Australia which will provide MSC with a full range of exceptionally high grade kaolin products for the paper, paint, polymer, cosmetic, pharmaceutical and ceramic industries focused on S. E. Asia and selected world markets.

Minerals Corporation inks China JV

Wednesday, March 17, 2010

Minerals Corporation (ASX: MSC) has signed a preliminary memorandum of understanding regarding the setting up of a Joint Venture in central China.

The company says a near term visit to China is planned to take this to a more detailed and formalised stage as well as holding discussions with the Provincial government.

The Joint Venture envisages a new subsidiary company being formed in China in conjunction with a major Steel Corporation for purposes of:

- Equity participation with the Steel Mill;

- Reliable long term source of steel slag waste for making Kaocem;

- Funding for land and a secondary blending facility in Henan Province with concentrate
activator being supplied by DDW- Ecominerals in Shanghai using the DDW- Ecominerals
intellectual property;

- Domestic and export marketing capacity for slag based Kaocem products.

The Company has previously entered into arrangements with Descrete Australia Pty Limited to produce these slag-based products locally in Australia. However, the company alleges that Descrete Australia has not performed its obligations under those arrangements over an extended period of time.

The Company has advised Descrete that unless a satisfactory resolution is forthcoming, the company intends to call for repayments of monies advanced to Descrete in the order of A$2 million, as well as seeking other damages.

The company has also informed Descrete that the Company is open to an ongoing working relationship with Descrete, but only on terms that are fair, reasonable and in the best interests of the Company.

Minerals Corporation advised that no proceedings have been filed against it by Descrete Australia (or related parties) in relation to any matter.

No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.