IMIC seeks Chinese funds for African assets in iron, particularly in Cameroon

Mining

IMIC seeks Chinese funds for African assets in iron, particularly in Cameroon

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- Wednesday, 21 January 2015 03:05

(Business in Cameroon) - IMIC, London-based mining company which has, among its activities in Africa, the Nkout iron project worth 2.7 billion tonnes of resources in South Cameroon, will be supporting CITIC Securities Co. Ltd, to raise Chinese funds for its projects.

CITIC Securities will help to identify new strategic partners and potential investors for the mining company which announced, a few days ago, its plans to start a final feasibility study in 2015 for the Nkout iron project, of which the total DSO of 43.2% was increased to 68% to settle at 252 Mt. “China is at the heart of the IMIC’s strategy and its projected iron production,” explained IMIC Chairman, Ethelbert Cooper.

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