() said it will increase its interest in the Hamersley Iron Ore Direct Shipping Ore (DSO) project, in the Pilbara region of Western Australia, to over 90%.
The acquisition provides increased flexibility to fund the project via a joint venture, partial sale or spin off, it said.
Alien currently has a 51% direct interest in the project, with the remaining 49% held by Windfield.
Under a share sale agreement, Alien will acquire an 80% interest in Windfield and so take its direct and indirect holding in the project to 90.2%. Alien has agreed to acquire Windfield on the basis that its sole asset will be the interest in the project.
Read More: Alien Metals Ltd has a diverse portfolio of commodities to develop