Australian-based mining companies are continuing to benefit from global market demands. Through its continuing efforts, Vector Resources is continuing to discover high-grade gold assets at its various projects. Today, the company is in a strong position to attract significant foreign investment and create a company dedicated to delivering shareholder value.
In recent years, the Perth-based gold and iron ore developer has focused on increasing its suite of quality projects in some of the most successful "gold producing" areas of Western Australia.
Covering more than 2,029 hectares and containing high-grade quartz vein hosted gold mineralisation, Mount Dimer is the company's flagship project, while Gwendolyn remains the highest priority exploration project. Both projects were added to the company's portfolio early last year through the acquisition of Golden Iron Resources.
Vector has seven projects within the Southern Cross region and an additional project located within the prolific gold producing region of Leonora.
Exploration efforts have lead to a succession of "high-grade hits" and the company recently secured a significant Chinese-backed investor, Eagle Brilliant Holdings.
With this strategic partnership firmly in place, the company is shifting its Gwendolyn East gold project in Western Australia towards production.
"The Board was extremely pleased, not only to welcome this strategic investment partner's long-term commitment, but also the opportunity to partner with an experienced company that can take Vector into production," says Glyn Povey, managing director of Vector Resources.
While the company's gold exploration assets are attracting a lot of investor attention, Vector is also working alongside Cazaly Resources and Anglo American at Earaheedy Joint Venture, a promising iron ore project.
As Vector continues to acquire and develop highly prospective iron ore and gold resource assets in Australia, Chinese firms are continuing to invest in Australia. The Chinese have played an important role in developing Australia's mining sector and continue to benefit from strategic investments and successful partnerships.
"The support Australia received from China through their imports of Australian iron ore and other commodities helped Australia to stabilise its economy following the global financial crisis," Povey says.
"Our track record as a successful resource-driven economy allows us to position ourselves as a safe haven for Chinese investors. Australian companies will continue to pursue strategic Chinese partners for future projects and build on our close business ties to China."