EPSILON Energy and Hebei Resources have agreed to a joint development of Mardie iron ore project in the Pilbara, Western Australia.
Hebei Resources is a company that acts as an agent for emerging Chinese steel mills.
The companies have has an exploration target of up to 1.1 billion tonnes of iron ore.
Epsilon Energy says Hebei and its partners will fully fund exploration and development over a three-year period through to a decision to mine by way of a farm-in agreement.
The Mardie Iron Ore project area covers 224km2 and is located 110km south-west of Dampier in the world class Pilbara mining region.
The project has easy access to major regional labour and services centres of Dampier and Karratha, is close to water sources in the Robe River Delta, and is traversed by the Goldfields natural gas pipeline. The Cape Preston Port and Infrastructure facilities are being constructed just 35km to the north east of the project.
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