Ironbark Zinc Limited have announced that they have signed a non-binding MOU with both China Nonferrous Metal Industry’s Foreign Engineering (NFC) and Construction Company Limited and Arccon Private Limited, a subsidiary of the Allmine Group Limited.

The agreement is signed conditional to a framework provided by the MOU which defines that;

1. NFC to engineer, design, procure, supply, construct, test and commission the project on a full turnkey basis;
2. NFC to facilitate funding of the Project Development Costs from major banks in China;
3. NFC entering into an offtake agreement for the concentrate products of the project or a portion thereof and
4. The MOU was signed in Beijing by senior representatives of NFC and Ironbark’s Chairman Mr Peter Bennetto and MD Mr Jonathan Downes.

Mr Qin Junman VP of NFC commented “NFC is looking forward to fostering a close and productive relationship based on cooperation with Ironbark as we jointly work on the development of major new zinc and lead mining operation. We are pleased to have signed the MOU and believe that a close relationship will result in an exciting outcome.”

Mr Peter Bennetto chairman of Ironbark added “Ironbark is delighted to enter into a mutually rewarding relationship with NFC for the development of the Citronen base metal project. NFC’s credentials are beyond reproach in the engineering, construction and delivery of major international projects.”