Legend International Holdings, Inc. stepped up its drive to capitalize on Australia’s rich mineral deposits announcing an agreement today with Mt Isa Metals, an Australian based exploration company, to merge projects and form a joint venture to develop the D-Tree phosphate deposit in northeast Australia. The joint venture project covers an area of over 121,000 acres in Queensland, and includes a drilling-confirmed mineralized phosphorite area of over 24,000 acres. Legend will manage and hold 80% interest in the venture, with Mt Isa Metals holding the remaining 20%. The venture is seen as a significant step towards near term mine development.