Fortescue Metals Group Ltd recently received the total net proceeds of AUD 190 million from BC Iron Ltd in relation to the sale of a 25%interest in the Nullagine Iron Ore JV.
Effective from 1st January 2013,Fortescue will hold a 25%interest in the NJV and the capacity available to the NJV on Fortescue's rail and port infrastructure will be 6 million tonne per annum.
Mr Nev Power CEO of Fortescue said that he looked forward to continuing to build upon the strong relationship we have established with BC Iron over the years.
Source:
http://www.steelguru.com/raw_material_news/FMG_completes_sale_of_25pct_interest_in_Nullagine_Iron_Ore_JV/295735.html