Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.
London-listed African Minerals, which owned 75% of the Tonkolili iron-ore mine in Sierra Leone, had started the controlled shutdown of operations at the mine, as it moves to put the operation on care and maintenance owing to insufficient working capital. The company noted on Monday that the operation would remain on care and maintenance until $102-million in cash, due to it by Shandong Iron and Steel Group (SISG), was paid or until it could secure additional short-term funding.
London-listed African Minerals, which owned 75% of the Tonkolili iron-ore mine in Sierra Leone, had started the controlled shutdown of operations at the mine, as it moves to put the operation on care and maintenance owing to insufficient working capital. The company noted on Monday that the operation would remain on care and maintenance until $102-million in cash, due to it by Shandong Iron and Steel Group (SISG), was paid or until it could secure additional short-term funding.
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