Major Events in Oct 2013 over Iron Ore (2)

摘要

Australia's Sphere Minerals Limited announced a maiden Inferred Mineral Resource estimate for its 50% owned Tintekrate magnetite deposit, Mauritania. This comprises 710 million tonnes of fresh magnetite-quartzite at 36% Fe and 180 million tonnes of weathered magnetite-quartzite at 34% Fe. Sphere and Mauritania's state-owned SNIM (Société Nationale Industrielle et Miniére) have conducted an exploration drilling program of 21,566 m in 66 drill holes at Tintekrate. The drilling was conducted in three campaigns between 2006 and 2013. The exploration program was managed by the holder of the EI Aouj mining tenement, EI Aouj Mining Company, a Mauritanian company owned by Sphere (50%) and SNIM (50%). Tintekrate is located close to SNIM's iron ore railway and is 635 km from SNIM's Atlantic deep water port at Nouadhibou. Sphere is a subsidiary company of Glencore.