GraphitecorpLtd. said April 7 that it signed long-term agreements withExco Resources Ltd.,formalizing their joint venture to explore the northern and central parts of theMount Dromedarygraphite project in Queensland, Australia.
Graphitecorp owns 80% of the joint venture, with Exco getting the remaining20%. The former will retain its full ownership of the project's southern area,thus making it the holder of an 82% interest in the entire graphite deposit.
The deal allows for the creation of a management committeefor the joint venture, to be initially composed of two Graphitecorprepresentatives and one from Exco.
Graphitecorp or one of its units will be the marketingmanager and agent for the joint venture's products. Its subsidiary GraphitecorpOperations Pty. Ltd. will serve as the venture's manager.
Exco Resources is owned by