View in Other Languages Reed Resources (ASX:RDR) in Talks with NFC (SHE:000758) to Develop Barrambie Project in WA Reed Resources (ASX:RDR)与中色股份(SHE:000758) 洽谈开发西澳Barrambie项目 Reed Resources (ASX:RDR)與中色股份(SHE:000758) 洽談開發西澳Barrambie項目 Reed Resources (ASX:RDR), NFC (SHE:000758)과 서호주 Barrambie 프로젝트 개발관련 협상 중 Reed Resources (ASX:RDR)、WA州Barrambieプロジェクトに関してNFC (SHE:000758)と協議 مفاوضات بين Reed Resources ASX:RDR و NFC SHE:000758 لتطوير Barrambie Project في أستراليا الغربية 
Reed Resources (ASX:RDR) in Talks with NFC (SHE:000758) to Develop Barrambie Project in WA
Reed Resources (ASX:RDR) in Talks with NFC (SHE:000758) to Develop Barrambie Project in WA

Sydney, May 18, 2010 AEST (ABN Newswire) - Australian diversified resources company Reed Resources Ltd (googlechartASX:RDR) is in preliminary discussions with China Non-ferrous Metal Industry's Foreign Engineering and Construction Co. Ltd (NFC)(googlechartSHE:000758) to develop Barrambie vanadium project in Western Australia.

Reed has completed a two year A$20 million definitive feasibility study for Barrambie, which is recognised as one the world's highest grade vanadium deposits and forecasted average earnings per annum in excess of A$100 million at current vanadium price.

Reed said the approach by NFC had been organised by Arccon (WA) Pty Ltd, a construction and engineering company servicing the mining and commercial building sectors in Western Australia. The company has agreed to deal exclusively with NFC and Arccon regarding a development and financing proposal for Barrambie until Augst 31 2010.

Reed said no party is under any obligation to proceed at this stage, and there is no certainty that a transaction will eventuate.

Contact

Michelle Liang
Asia Business News Asia Bureau
Tel: +61-2-9247-4344
Email: michelle.liang@abnnewswire.net


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