BROCKMAN Resources has reported interest from a number of Asian companies for minority stakes in the WA iron ore explorer.
Executive director, Colin Paterson, says 12 companies, mostly from China, have signed agreements for a share in the company, allowing them greater access to its Marillana Iron Ore operation in Western Australia.
Chinese steel mills are increasingly acquiring stakes in Australian mining companies as low commodity prices allow them to purchase assets far cheaper than in 2007/8.
"They take a very long-term view and know that this is fairly short-term blip… Their aims are no different to what they were 12 months ago, which was to secure long-term sources of supply," Paterson said.
Other Australian mining assets being chased by Chinese companies include coal producer Felix Resources and Oz Minerals.
According to Paterson, Brockman Resources is also looking to cash in on the global credit crisis by purchasing more low-cost mining assets in the near future.
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