Australia's Iron Bear Resources jumps on receiving project funding from Vale

Vale

24/06/2026 04:20

** Shares of Australia's Iron Bear Resources IBR.AX rise as much as 5.1% to A$0.082, their highest level since Aug. 11, 2025
** Stock on course for sixth straight sessions of gains
** The mineral explorer says Vale VALE3.SA has paid the fourth tranche of $2 million towards the phase 1 contribution of joint development of co's Iron Bear iron ore project in Australia
** Under the agreement, the Brazilian miner can provide up to $138 million in funding across two phases to earn a 75% interest in the project
** YTD, IBR up 10.5%, including day's moves

 (Reporting by Aamir Sheik Khalid in Bengaluru)
 ((Aamir.SheikKhalid@thomsonreuters.com))