British mineral exploration and development company Afferro
Mining Inc. has announced that British Columbia Supreme Court has issued a final order approving the previously announced proposed acquisition of Afferro
Mining by
UK-based
iron ore mining-focused investment company International
Mining & Infrastructure Corporation (IMIC).
Completion of the acquisition remains conditional on approval by IMIC shareholders and the receipt of all necessary regulatory approvals.
As SteelOrbis previously reported, Afferro
Mining's Nkout
iron ore project in southern Cameroon is estimated to have prospective reserves of 4 billion mt, with an expected
mining life of 50-70 years.