Metal Co.'s Deal Paves Way For Mitsubishi Mining Stake

Law360, New York (December 23, 2011, 5:01 PM EST) -- Australian companies Murchison Metals Ltd. and Chameleon Mining NL have settled a dispute for $25 million, clearing the way for Murchison's sale of its stake in a major iron ore mining project and a port and railroad venture to Mitsubishi Corp.'s Australian subsidiary, Murchison announced Friday.

Struggling Murchison had agreed in November to sell its half interest in the Jack Hills mining project and the Oakajee Port and Rail venture in Western Australia to Mitsubishi Development Pty Ltd. for $325 million, but Mitsubishi said it would...
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