Welcome to Australasian Resources Ltd
Australasian Resources Limited, through its wholly owned subsidiary International Minerals Pty Ltd, plans to develop the world-class Balmoral South Iron Ore Project in the Pilbara region of Western Australia.
The Company has a strategic alliance with China’s 4th largest steelmaker, Shougang Corporation, and two associated entities have already committed A$56 million to the Company and can inject a further A$42 million through the exercise of 28 million options before 2010.
Shougang has the option to earn a 50% stake in International Minerals via existing commercial agreements if it completes the following:
- fully funds the Balmoral South Iron Ore Project through an interest free debt facility;
- guarantees offtake of all iron ore products from the project; and
- guarantees the construction of the project.
This provides a solid platform for the development of the Project that would enhance the value and minimise risks for Australasian shareholders.
The Company has a number of non-iron ore assets including:
- Sherlock Bay Nickel Project;
- Copper Bore Well and Mt Salt Uranium, and
- Cat Camp Nickel Project.
