Australian mineral explorer Apollo Minerals has signed an agreement with China’s Sinom Holdings to develop its Mt Oscar iron ore project, located in Western Australia’s Pilbara Region.

The Memorandum of Understanding is aimed at advancing discussions to secure an exploration and development agreement for the project, where the Apollo said it has outlined a “significant magnetite iron ore target and has recently been granted an iron ore exploration licence”.

Apollo said it is currently involved in discussions with Chinese companies to finalise an exploration agreement.