The joint venture agreement between Australia’s Midwest Corp. and Sinosteel have been completed. This joint venture is to develop Midwest's Koolanooka and Weld Range projects in Western Australia. It will cost around a US$1.5 billion to develop Midwest's Weld Range haematite project and its Koolanooka magnetite project. The Koolanooka magnetite project is referring to the manufacture and export of 4.5 million tpy of iron ore pellet or concentrates. Mount Weld is expected to find 400 to 500 million tons of haematite to produce 15-20 million tpy of ore for export. (Oct. 18)