Coziron Resources Limited has entered into agreements to acquire three significant and key tenement interests in Western Australia for a value of AUD 15 million. The acquisition of the projects will be subject to shareholder approval, during February 2012. According to the company, the tenements are highly prospective for significant iron ore as haematite and/or magnetite, titaniferous vanadiferous magnetite and manganese ore resources. The key Midwest and Pilbara tenements are also well situated in terms of existing and planned infrastructure. Once the acquisitions have gone through, Coziron intends to fast-track exploration and project development to become an integrated supplier of raw materials to steel producers.
