Mining Weekly reported that Rio Tinto plc (ASX:RIO,LSE:RIO,NYSE:RIO) sees development opportunities in the mining industry in Africa.
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West African Minerals Corporation (LSE:WAFM) announced its maiden Mineral Resource estimate for its Sanaga license in Cameroon totals 82.9 Mt at 32.1 percent iron at a 25 percent iron cut-off grade.
Ferrum Crescent Ltd. (ASX:FCR) announced the completion of a reverse-circulation drilling program at its Moonlight iron ore project in South Africa.
Reuters reported that on Friday, Sable Mining Africa Ltd. (LSE:SBLM) signed a $1.3-billion deal to export iron ore via Liberia. The company mines the ore in Guinea.
The Mining Weekly reported that African Minerals Ltd.’s (LSE:AMI) partners in the Tonkolili iron ore project, located in Sierra Leone, have agreed to release $12.96 million from the project’s restricted bank account in Hong Kong.
African Minerals announced plans to blend its iron ore with that of Timis in a move aimed at producing a higher grade of iron. The companies also hope to become more competitive in the European steel industry.
African Minerals is looking at blending its iron ore with products from another mine in Sierra Leone to produce higher grade iron ore to sell in Europe.
Low iron ore prices and the recent Ebola outbreak are causing big problems for West African companies focused on the metal. Is there any way for investors to escape unscathed?
The Sundance Resources saga took an unusual turn last week with an AU$40-million cash injection via unsecured convertible notes. It came from Ukrainian mining billionaire Gennadiy Bogolyubov.
The move is aimed at allowing BHP to focus on the “four pillars” of iron ore, copper, coal and petroleum.