OREANDA-NEWS. March 02, 2011. Wuhan Iron and Steel (Group) Corp. overseas resource strategy harvested a new advance. On February 15, WISCO signed a cooperation agreement with the Canadian miner Adriana Resources for the latter's iron ore properties, further enhancing WISCO to secure iron ore supply as well as expanding profit growth points for both sides, reported the press-centre of WISCO. 

At the signing ceremony, WISCO president Deng Qilin, Canadian Adriana Resources president & CEO Allen J. Palmiere, both delivered ardent addresses, showing strong confidence on future cooperation and looking forward to achieving plentiful returns.

As a Canadian TSX—V (Toronto Stock Exchange Venture Exchange) -listed resource company, Adriana Resources owns rich iron ore properties, which afford intense complementation with WISCO’s advantages on capital, technology and talents, based on which, both sides will have vast cooperation regions. Canada has favorable resource policies and investment environment. At early stage of this project, WISCO and Adriana Resources had sincerely and friendly talks repeatedly, and entered into a binding framework agreement to jointly develop the iron ore project.