Altona Mining
(ASX:AOH) says its Cloncurry copper project in northwest Queensland has received all relevant approvals from Chinese authorities in order to proceed.
The only remaining condition precedent is getting approval from Australia’s Foreign Investment Review Board.
The Cloncurry Project will be jointly funded and developed by Altona and the Sichuan Railway Investment Group Co Ltd – hence the need for regulatory approval from both countries.
Altona also say it needs to obtain all necessary third party agreements to transfer ownership of various assets to the proposed joint venture company – and has so far, obtained the majority of them.
This morning, Altona Mining shares are tracking 3.45% higher at 15 cents.
