TerraCom eyes iron ore project acquisition in Guinea

摘要

Blair Athol coal mine owner TerraCom wants to acquire an iron ore project in the West African country of Guinea as part of its strategy to become a global bulk commodities producer. TerraCom has executed an exclusive non-binding memorandum of understanding to acquire the Kalia iron ore project located 300 km from Guinea's Konta port that has rail and road export options. The Kalia project comprises an ore body targeting 4.7 bnt of magnetite banded iron formation, 900 mt of oxide and supergene banded iron targeting ferronickel, and a 20 km-long strike of magnetite ore.