China Railway Materials Corporation (CRM) announced it had agreed to purchase 12 percent of shares of Ferr Aus Ltd, an emerging iron ore producer in Australia, for about A$12.6 million so as to win the chance of exploiting iron ore in eastern Pilbara, West Australia. In a separate deal, CRM is looking to join its forces in the development of Railway Iron Ore Deposit in the company with United Minerals Ltd by taking over 11.38 percent share in the latter for A$27.2 million. Both deals are still pending upon the approval from China’s relevant authorities.