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Korab to review Australia, Ukraine ops to focus on Winchester magnesite deposit

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Korab to review Australia, Ukraine ops to focus on Winchester magnesite deposit

Korab Resources Ltd. said March 26 that it began a review to possibly divest its operations and projects in Western Australia and Ukraine to focus on its Winchester magnesite deposit in Australia's Northern Territory.

The company began discussions with interested parties for various options for the projects, including joint ventures or a partial or outright sale.

An updated pre-feasibility study to develop Winchester as a direct shipping ore operation estimated pretax earnings at up to US$614.2 million over the project's 12-year life, Korab reported earlier this month.