Zinc project in Greenland receives Chinese backing
Ironbark’s Citronen base metal project in Greenland has the support of China Nonferous Metal Industry which signed a memorandum of understanding with the junior for potential funding of the zinc property.
Ironbark (ASX:IBG) says Citronen is one of the largest zinc resources in the world. The company also touts the mining-friendly environment in Greenland.
China Nonferrous Metal Mining Group is a state-owned Chinese corporation with mines in Zambia, Mongolia and Thailand.
A delegation of government officials from Greenland toured the project with the Vice President of China Nonferrous Metal Industry’s Foreign Engineering and Construction, Mr. Qin Junman.
Ironbark is working towards a project study report in compliance with financing requirement of China’s bank. It will also incorporate Chinese equipment and construction costs into its feasibility study.