Anshan Steel expected to win approval for investment in Australia Gindalbie within a Month

2009-04-29 Shenyang

Anshan Iron & Steel Group may receive approval from Australia for its AUD 162 million (approx.US$114 million) investment in Perth-based Gindalbie Metals within a month. Garret Dixon, CEO of Gindalbie said in a statement to the Australian stock exchange that "We firmly believe the application will be approved." Gindalbie and Anshan will hold a media briefing in Perth at 11:30 AM local time. Mr Dixon added Gindalbie's Karara project in Western Australia won't be affected by a forecast decline in iron ore prices this year.