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18. December 2009 14:43 Egoli

Resource Wrap: 18 December 2009 - RIO, ARM, AOA

Resource Wrap: 18 December 2009 - RIO, ARM, AOA

Rio Tinto Limited (RIO) awarded the NRW Holdings Limited (NWH) and Eastern Guruma Joint Venture the $200 million Western Turner Syncline Project for the design, development and operation of an iron ore mine and road haulage services. NRW said the contract represents its largest mining operation in Western Australia.

Aurora Minerals Limited (ARM) said it has signed a joint venture agreement with a private syndicate to earn 80% of a key Exploration Licence at Aurora’s Capricorn Southeast Project, Western Australia. The company said the licence covers a nine-kilometre strike extension to the same mineralised horizon which hosts Aurora’s high-grade manganese discovered this year within a strike of 53 km to the immediate west. Aurora said of 101 rock-chip samples collected, 29 assayed over 40% Manganese with a high of 56.3%.

Ausmon Resources Limited (AOA) announced that it has acquired 100% of Great Western Minerals Limited. Ausmon said the assets of Great Western consist of Joint Ventures in respect of three Exploration Licences encompassing 753 square kilometres within northeast of Broken Hill in New South Wales. The company said the consideration for the acquisition of Great Western is the issue of 2,500,000 Ausmon fully paid ordinary shares. Ausmon said one of the tenements contains the Wertago Copper Field and Nutherungie Silver Field, which are considered to be highly prospective and under explored. The company said through Great Western it would undertake an extensive exploration program on these tenements commencing early in 2010. 

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