Auric Mining Company announced that it has signed a Memorandum of Understanding with Anh Thang Mining Corp. to jointly mine and excavate some of the largest, active iron ore and steel mining properties in Northern Vietnam. Auric will utilize its resources, equipment and contract labor personnel to provide infrastructure support to Anh Thang project initiatives in Quang Ninh and Thanh Hoa provinces.

The Joint Venture is for three years with an option to renew for another two years. In return, Anh Thang will allow Auric Mining a 10% ownership in its mines once production volume has reached an agreed upon milestone.