05
Mar
00:00
Shangang moves to take over African ore venture
African Minerals’ Tonkolili iron ore project in Sierra Leone may never escape its mothballed state after project partner Shandong Iron and Steel (Shangang) took over the company’s debts, analysts say. Shangang has been described in Chinese media as having “stepped on a mine” with its investment and may be trying to minimise its losses, Kallanish notes.
African Minerals took out a $250 million pre-export finance loan from a consortium …
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