Arccon facilitates MOU between NFC and Reed Resources for development of Barrambie Vanadium Project in Western Australia

Arccon is pleased to announce that a Memorandum of Understanding has been signed between Chinese conglomerate China Nonferrous Metal Industry's Foreign Engineering and Construction Co. Ltd ("NFC") and Perth-based Reed Resources with regards to the development of Reed Resources' Barrambie Vanadium Project in Western Australia.

The Barrambie Vanadium Project is recognised as one of the world's highest grade vanadium deposits with projected average earnings of in excess of A$100m per annum. This agreement formalises previous discussions regarding the provision of an Engineering, Procurement and Construction (EPC) style contract and project financing.

Arccon Mining Services is a leading engineering and construction company servicing the mining and commercial building sectors of Western Australian.