The latest announcement is out from Cyclone Metals Ltd ( (AU:CLE) ).
Cyclone Metals Limited has entered into a binding commercial agreement with Vale S.A. for the joint development of the Iron Bear iron ore project in Canada. Vale will provide up to USD 138 million in funding through a two-phase investment to earn a 75% stake in the project, with the option to acquire the remaining interest or carry Cyclone to production. This agreement sets a clear path for Iron Bear to become a leader in low-cost, low-carbon iron ore production, aligning with market demands for sustainable products and potentially enhancing Cyclone’s position in the industry.
More about Cyclone Metals Ltd
Cyclone Metals Limited (ASX: CLE) is a company involved in the development and production of iron ore products, with a focus on low-cost and ultra-low carbon solutions in the iron ore industry. The company is engaged in projects that aim to position it as a leader in supplying sustainable iron ore products.
YTD Price Performance: 30.0%
Average Trading Volume: 14,520
Technical Sentiment Consensus Rating: Buy
Current Market Cap: €37.56M
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