Release: Grange Resources Ltd: Krakatau Steel
Thursday, June 12 2008 - 05:55 AM WIB
(12 June 2008)--This week there have been a number of articles published in the Indonesian Business newspaper ?Bisnis lndonesia?, and also reported by Bloomberg that PT Krakatau Steel may buy a 20% to 30 % stake in Grange Resources Limited to secure iron ore supplies.
Grange has not had any discussion or communication with Krakatau Steel in recent months about any facet of the company or the Southdown project
As previously announced in the quarterly report issued on 30 April 2008 Grange is continuing to progress discussions regarding the company?s Southdown project with a number of significant international companies.
As the outlook for the future demand for pellets and in particular for the premium quality DR pellets, has improved dramatically, Grange remains confident of securing the necessary investment to advance the project. (end of release)