Amex signs $100m mining contract

Amex Resources has signed a $100 million procurement, construction and management contract with a Chinese state-owned contractor.

The contract is for the development of its 100% owned Mba Delta iron sands project in Fiji.

While AMEX did not state who the contractor would be, it did say it was a "major Chinese state-owned entity ranked in the Forbes 500 largest global corporation list".

The Chinese company has mobilised an advance party of 13 workers to the site this week.