Russian steelmaker
Severstal has announced that the shareholders of British mineral exploration and development company Afferro
Mining Inc. have approved the sale of the company's 38.5 percent interest in the Putu
iron ore project in
Liberia to
Severstal's indirect subsidiary Lybica Holding B.V.
The transaction has been formally approved by Canada's TSX Venture Exchange where Afferro
Mining is listed. According to the definitive sale and purchase agreement, the transaction will be completed by no later than February 28, 2012.