October 21, 2018 / 11:57 PM / a year ago

BUZZ-Australia's BCI Minerals climbs on selling its Kumina iron ore project

** Shares of iron ore miners BCI Minerals Ltd rise as much as 11.1 pct to A$0.150, its highest in almost a week

** Stock posts its biggest intra-day percentage gain since Oct. 9

** Mining infrastructure services provider Mineral Resources Ltd says it entered into a binding agreement with BCI Minerals to acquire its Kumina iron ore project for $27 million

** Mineral Resources to pay a further $4 mln to BCI when it completes the first export of iron ore from the Kumina project and an additional $4 million one year after co achieves first export

** About 1 mln shares change hands, compared with the 30-day average of 888,146 shares

** BCI Minerals’ stock has fallen almost 20.6 pct this year as of last close

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