Posco may back away from $12 billion India project, page-3

POSCO was interested in the Nkout and had signed a MOU with Afferro but lost the deal to WAFM (China backed?)

LONDON, Feb. 25, 2013 /CNW/ - Afferro Mining Inc. ("Afferro" or the "Company"), the exploration and development company focused on iron ore in Cameroon, is pleased to announce that it has signed a memorandum of understanding ("MOU") with POSCO Africa (Pty) Ltd. ("POSCO Africa"). Both parties have agreed to endeavor and cooperate in order to negotiate a definitive agreement in relation to Afferro's Nkout, Ntem and Akonolinga iron ore projects in Cameroon.
Highlights

• POSCO Africa signs MOU with the intention of making a project level investment
• POSCO Africa to cooperate to facilitate infrastructure and project development funding
• Both parties working towards signing a definitive agreement during Q2 2013..........

http://www.newswire.ca/en/story/111...posco-for-development-of-projects-in-cameroon