Flinders strikes it big

06/03/2013 11:01:00

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Flinders mines (ASX:FMS) has struck a deal with four separate steel mills in China, which may increase its sales of Iron ore.

The company says it’s entered into a binding memoranda of understanding.

Under the deal the four Chinese mills will assess whether Flinders’ Iron Ore project is the right fit for their iron operations.  

Flinders mines last recorded a net loss of $5.1 million for the 12 months to December 31st.