CuFe Limited (AU:CUF) has released an update.
CuFe Limited is set to sell its JWD iron ore mining rights to Newcam Minerals Pty Ltd for $12 million, aiming to refocus on more promising assets amid volatile iron ore prices and operational challenges. The deal includes a shift to care and maintenance of the mine to preserve resources and is contingent on shareholder and regulatory approvals. Proceeds from the sale will be used to settle trade creditors and improve the company’s financial position.
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