庫4.jpg)
Save
PrintOman’s Anvwar Asian Investments (AAI) has settled with Ferrum Crescent to buy a 35% stake in Ferrum Iron Ore.
AAI will pay Ferrum Crescent US$10 million for the shareholding and also invest USD 3.5 million to the Moonlight iron ore project.
The Moonlight iron ore has a JORC compliant resource of 307.8 million tons at 26.9% Fe, and the construction of an adjacent beneficiation plant that will increase Fe content to 68.5%.
AAI’s chairman Anvwar Al Balushi said they bought the share because of the growing importance of pellets to the global steel industry and the potential benefit of the South Africa-based mine toany future involvement by the firm in Oman’s steel market.
After the deal, Ferrum Crescent owns 62%, AAI has 35% and the local community in Limpopo still keeps 3%.
Copyright © 2013 Ferro-Alloys.Com. All Rights Reserved. Without permission, any unit and individual shall not copy or reprint!
- [Editor:editor]
Daily News
Research
Magazine
Company Database
Customized Database
Conferences
Advertisement
Trade
Tell Us What You Think