IMIC keen to unlock world class potential of Nkout
IMIC chairman says US$200mln Afferro takeover will unlock world-class potential of iron Cameroon ore asset. Haresh Kanabar, Chairman of International Mining & Infrastructure (LON:IMIC), reckons the US$200mln takeover of Afferro (LON:AFF CVE:AFF) will be transformational for Afferro's flagship project -- the 2.5bn tonne Nkout iron ore deposit in Cameroon. "We intend to deliver the infrastructure that will turn what is effectively a stranded asset into a commercial asset," he says. http://tinyurl.com/lmu6uwj
Afferro deal offers IMIC 'highly attractive' opportunity in Cameroon
Haresh Kanabar, Executive Chairman of International Mining & Infrastructure Corporation, tells Proactiveinvestors why his firm is splashing out $190m on Cameroon-focused Afferro Mining. He talks about his firm's plans to get 2.5bln/t of iron ore stranded at the Nkout mine out of the country. Kanabar also discusses the terms of the deal and why IMIC chose to split payment between cash and a loan note.
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