Altona Mining Limited
(ASX:AOH) has announced it will extend the closing date for reaching an agreement on its proposed joint venture with Sichuan Railway Investment Group.
The JV would see both parties build a new copper-gold mine at Altona’s Cloncurry Project in northwest Queensland.
The closing date for the transaction has now been pushed out to 31 March 2017, with the company citing internal procedures within the Sichuan group as the reason.
The Chinese company will meet with Altona and the Queensland Government in October in Brisbane to discuss progress of the JV.
Altona Mining Limited reported a net loss of $2.68 million at 31 December 2015.
