21
Apr
01:00
Shangang buys out Tonkolili
China’s Shandong Iron and Steel (Shangang) is taking full control of Sierra Leone’s Tonkolili iron ore mining project after buying out the remaining 75% stake in its holding company from African Minerals. Shangang is likely to have negotiated quite a good deal considering its recent positioning and says it intends to resume production, Kallanish notes.
Details of the acquisition of the remaining 75% stake in the project have not been made public.…
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Very good overview of the weekly steel market.
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