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Siburan Resources plans tungsten connections as Chinese partnership deepens

Siburan Resources plans tungsten connections as Chinese partnership deepens

Siburan Resources (ASX:SBU) has helped its chances of making business connections with Asian tungsten customers by formalising a marketing relationship with a Chinese auto parts manufacturer.

Siburan – which develops both tungsten and gold assets – has reached an arrangement with China Automobile Parts Holdings Limited to investigate the viability of the market in Australia for its products.

The arrangement will allow China Automobile benefit from Siburan’s assistance in showcasing its car products in Australia with the aim of establishing a sales presence.

The deal follows a move by Siburan in May to acquire 16.67% of China Automobile as part of the Perth-based company’s strategy to gain a presence in China.

This in turn is expected to open doors to major players in the tungsten industry as well as potential end-users and offtakers for Siburan’s Kirwan tungsten project in New Zealand.

Kirwan is planned to be the largest tungsten mine outside of China and is slated to deliver a JORC resource in the coming months based on a series of drilling programs to outline the extent of the mineralisation.

The project covers 837 square kilometres 12 kilometres east of the township of Reefton on NZ’s South Island.

 

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Newswire
September 30 2014

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