On September 14, Australian-based iron ore development company African Iron announced that it has completed the acquisition of an additional 12 percent of DMC Iron which is incorporated in the Republic of Congo.
African Iron, through its wholly-owned Australian subsidiary, DMC Mining Pty Ltd, now holds 92 percent of the issued capital of DMC Iron Congo and consequently owns 92 percent of the Mayoko iron ore project, located in the Republic of Congo in central West Africa.
The Mayoko Project has an existing direct shipping ore (DSO) mineral resource of 33 million mt at 56 percent Fe and six targets with an exploration target size estimated at 0.9 billion mt and 1.3 billion mt of hematite and magnetite respectively.