India's largest iron ore exporter Sesa Goa has announced that it has acquired the remaining 49 percent stake in Western Cluster Ltd, Liberia (WCL) from Elenilto Minerals & Mining LLC for a cash consideration of US$33.5 million.
The project, which is located in the western part of Liberia with an estimated reserve of over 1.05 billion mt of iron ore, is on track for its first shipment in the financial year 2013-14.
As SteelOrbis previously reported, in August 2011 Sesa Goa acquired a 51 percent stake in WCL for US$90 million.