Sphere also owns 100% of the BF grade magnetite deposits Lebtheinia and EL172 which is located 50 km from SNIM’s railway and 180 km from the iron ore port of Nouadhibou. In December 2008, following an extensive drilling campaign, Sphere announced a JORC Code compliant Mineral Resource of 2.3 billion tonnes (Bt) at the Lebtheinia Centre Deposit, one of four deposits contained in two adjacent licenses that are 100% owned by Sphere. This maiden Resource includes.
Different company, different mine, different country.
note Sphere Investments Limited iron ore is only 50 KM from the railway not some 400KM+ that SDL is going to have to build and fund.
Also this company has been around since 1986. Did it take them so long to get the mine up and running in the year 2009 ?
