Wits Basin Precious Minerals Inc. (WITM.OB) Announces JVP with London Mining Plc in the People’s Republic of China
Wits Basin Precious Minerals Inc. (OTCBB: WITM) is a minerals exploration and development company with interests in three exploration projects. The company today announced a joint-venture partnership with a leading international mining and development company for the steel industry, London Mining Plc. Subject to due diligence and finalization of definitive documentation, the two companies will enter into a 50/50 joint venture partnership for Wits Basin’s iron ore, a project located near Maanshan, Anhui Province in the People's Republic of China. Wits Basin CEO Stephen D. King said London Mining’s knowledge in the iron industry will benefit both companies. The company…