Sphere Investments Updates Iron Ore Development Projects In Mauritania

摘要

Australian Sphere Investments Limited has provided updates for the two iron ore projects it is developing in Mauritania: Guelb el Aouj Project and Lebtheinia Iron Ore Project, with the following highlights: The Guelb el Aouj Project is being developed in a joint venture with Mauritania's state-owned iron ore producer, SNIM. The project area covers a region of 520 km~2 and includes Centre Deposit, East Deposit and West Deposit. The joint venture company, El Aouj Mining Company, is owned 50 : 50 by Sphere and SNIM. It has appointed USB Investment Bank to run the trade sale process for a strategic stake in the project.