Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.
Sierra Leone-focused mining company African Minerals said on Friday it will appoint administrators after failing to repay its lender and partner in the Tonkolili iron-ore project Shandong Iron and Steel Group. After taking on some of African Minerals' debt from banks and demanding immediate repayment last week, Shandong, which owns 25% in Tonkolili, took control of the holding companies in the project.
Sierra Leone-focused mining company African Minerals said on Friday it will appoint administrators after failing to repay its lender and partner in the Tonkolili iron-ore project Shandong Iron and Steel Group. After taking on some of African Minerals' debt from banks and demanding immediate repayment last week, Shandong, which owns 25% in Tonkolili, took control of the holding companies in the project.
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