(Business in Cameroon) - Listed on the Australian Securities Exchange, Legend Mining Ltd, is now officially no longer a part of the Ngovayang project in Cameroon, having been replaced by the Indian steel manufacturing giant, Jindal Steel and Power Ltd.

The small Australian mining company announced on August 5 that the sale of 90% of its interest in the holding company, Camina SA, was complete, the company created for the mining project now handed over to the Indian group which will now assume 100% control of the Ngovayang project.

The company has stated that it has received the first tranche of 6 million Australian dollars that the guidelines provide for in three portions. The total amount for the deal is 17.5 million dollars. “Legend is currently well positioned to pursue exploration in its Fraser Range property for nickel and copper in Western Australia as well as in other projects,” commented Mr Mark Wilson, Managing Director of the Australian mining company.

The Ngovayang iron project includes three exploration permits covering 2,970 Km2 in the South region of Cameroon.