London-listed explorer African Minerals reported on Monday that it has agreed to develop its Marampa iron-ore project, in Sierra Leone, with Australian explorer Cape Lambert Iron Ore.

Executive chairperson Frank Timis said:

We look forward to having Cape Lambert as an investor in the Marampa project. They bring with them substantial experience and expertise in the iron-ore industry, as shown by the recent sale of their major iron-ore project to the China Metallurgical Group Corporation.

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