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Northern Minerals signed a non-binding MoU with Sinosteel MECC to serve as EPC contractor for the A$60 million Browns Range Pilot Plant in Western Australia. Construction is expected to commence in early 2017. Sinosteel MECC will defer 20% of payments for 24 months with a right to convert into Northern Minerals shares.
“Northern Minerals (ASX: NTU) has selected Sinosteel MECC, part of the Sinosteel Group, as its preferred EPC contractor for the Browns Range Pilot Plant development.”investorinsight.com.au
Summarized from public sources; check the original articles before acting on it.