CuDeco (ASX:CDU) Entered MOU with Sinosteel

Sydney, April 15, 2010 AEST (ABN Newswire) - Australian copper explorer CuDeco Ltd (ASX:CDU) said it has entered into a Memorandum of Understanding (MOU) with a mining and construction subsidiary of China state-owned Sinosteel Group.

The MOU outlines financing and terms arrangement options for Cudeco for the entire development of the 100 per cent owned Rocklands Project in Queensland.

CuDeco said the non-binding agreement with Sinsoteel Equipment and Engineering Co. Ltd will be replaced by a binding agreement if and when it takes place. The company also said the deal was one of many opportunities it is discussing with parties in China for the development of Rocklands and other projects.

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Michelle Liang Asia Business News Asia Bureau Tel: +61-2-9247-4344 Email: michelle.liang@abnnewswire.net