New twist in MH370 tale as Malaysia agrees to resume search

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"Australia, at Malaysia's request, will provide technical assistance to the Malaysian government and Ocean Infinity".

Malaysia is poised to negotiate terms with United States-based seabed exploration outfit, "Ocean Infinity" to begin a new search for the Malaysia Airlines Flight MH370 jetliner which vanished in 2014.

Malaysia's deputy transport minister Aziz Kaprawi said on Thursday: "Yes, we are negotiating with Ocean Infinity, but the agreement has not been finalised".

However late previous year the Minister for Infrastructure, Darren Chester, said any resumption of the search required precise identification of the final resting place of the wreckage.

"Once the negotiation is completed and the terms and conditions have been agreed with Ocean Infinity, the government will then seek agreement from the tripartite cooperation - Australia and China governments - to proceed with the search mission", he said in a statement Friday. Australia helped lead the hunt for the plane in remote waters west of the country.

The disappearance of the Boeing 777 on March 8, 2014, on a flight to Beijing from Kuala Lumpur, has become one of the world's greatest aviation mysteries.

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"The MH370 Response Team has received several proposals...this include an offer by a company known as Ocean Infinity on a "No Cure No Fee" basis. Malaysia's decision to proceed with the search shows the commitment to find MH370".

Most of the passengers and crew were from China and Malaysia, but individuals and families from 14 different countries were also on board the missing flight.

"While I am hopeful of a successful search, I'm conscious of not raising hopes for the loved ones of those on board".

In its final report released earlier this month, investigators for the Australian Transport Safety Bureau said it was "almost inconceivable" that authorities were no closer to knowing its ultimate fate.

At the time it was suspended, the Australian Transport Safety Bureau released findings from worldwide and CSIRO scientists which identified a smaller 25,000sq km area with "a high probability" that it contained the aircraft.

The aircraft was thought to have been diverted thousands of miles off course out over the southern Indian Ocean before crashing about 2,000km off the coast of Western Australia.