Sierra Leone Mines Official: ArcelorMittal Seeking 25% Stake In African Minerals.
By Alex MacDonald
Of DOW JONES NEWSWIRES
CAPE TOWN -(Dow Jones)- ArcelorMittal (MT, MT.AE), the world's largest steelmaker, is in talks to purchase a 25% stake in iron ore project development company African Minerals Ltd. (AMI.LN).
Jonathan Sharkah, the director general of Sierra Leone's mining ministry, told Dow Jones Newswires on the sidelines of a mining conference here that ArcelorMittal "wants to buy a share in African Minerals by the end of the year."
ArcelorMittal declined to comment on the matter.
African Minerals is aiming to produce about 50 million tons of iron ore a year by around 2015. It is also expected to complete a rail road that connects the mine to the port in the next three to four months, he said. The railroad of around 200 kilometers is expected to take another three to four months to complete, he added.
http://www.automatedtrader.net/real-time-dow-jones/45887/sierra-leone-mines-official-arcelormittal-seeking-25-stake-in-african-minerals
Sierra Leone Mines Official: ArcelorMittal Seeking 25% Stake In...
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