British mineral exploration and development company Afferro Mining Inc. has announced that British Columbia Supreme Court has issued a final order approving the previously announced proposed acquisition of Afferro Mining by UK-based iron ore mining-focused investment company International Mining & Infrastructure Corporation (IMIC).
Completion of the acquisition remains conditional on approval by IMIC shareholders and the receipt of all necessary regulatory approvals.
As SteelOrbis previously reported, Afferro Mining's Nkout iron ore project in southern Cameroon is estimated to have prospective reserves of 4 billion mt, with an expected mining life of 50-70 years.
Source:
http://www.steelorbis.com/steel-news/latest-news/court-approval-for-afferro-mining-takeover-by-imic-788714.htm
