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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Afferro Min | LSE:AFF | London | Ordinary Share | CA00818V1031 | COM SHS NPV(UK REG) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 88.75 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMIMIC TIDMAFF
RNS Number : 9613I
Intl Mining & Infrast Corp PLC
10 July 2013
For 10 July immediate 2013 release
INTERNATIONAL MINING & INFRASTRUCTURE CORPORATION PLC
("IMIC" or "the Company")
Purchase of Further Shares in Afferro Mining Inc.
International Mining & Infrastructure Corporation plc (AIM: IMIC), the company focused on unlocking the value of African iron ore through infrastructure development and strategic investments in junior miners, announces it has purchased a further 1,080,000 shares in Afferro Mining Inc. ("Afferro").
The shares were acquired at an average price of 79.60p per share on the open market. Following this purchase, IMIC holds 20,111,342 ordinary shares in Afferro Mining Inc. representing 19.15% of Afferro's current voting rights.
For further information, please contact:
International Mining and Infrastructure www.imicplc.com Corporation plc Haresh Kanabar, Chairman Ousmane Kane, Chief Executive Officer James Ward, Finance Director +44 (0) 20 7290 3340 WH Ireland Limited - Nominated Adviser www.wh-ireland.co.uk Mike Coe +44 (0) 117 945 3470 Buchanan www.buchanan.uk.com Mark Court / Fiona Henson / Sophie Cowles +44 (0) 20 7466 5000
About IMIC
International Mining Infrastructure Corporation plc (IMIC), in conjunction with its privately held strategic partner African Iron Ore Group (AIOG), is working to unlock value in the metals and mining industry in West and Central Africa by providing infrastructure solutions, for railways, deep-water ports, power and/or iron ore beneficiation, that will allow the region's emerging iron ore projects to develop into globally significant export operations.
IMIC and AIOG are well positioned to partner African host countries in the delivery of infrastructure arrangements, and to assist with initiatives that best address the long-term aspirations of their governments and people.
China, as consumer of 70% of the world's seaborne iron ore, is key to this opportunity. A best in breed alliance of Chinese construction and equipment groups and iron ore off-takers has been carefully assembled to provide funding and delivery of projects and onward sale of iron ore.
AIOG's major infrastructure project, in partnership with IMIC, is the Simandou South iron ore project in the Republic of Guinea, where there is an agreement with the Guinean government to deliver a multi-purpose, multi-user infrastructure solution which ultimately could become the backbone of the country's transport network.
IMIC also takes strategic stakes in junior miners with the intention of benefiting from the uplift in value once an infrastructure solution is initiated. IMIC's first strategic investment was the purchase of a 3.9% stake in Afferro Mining Inc, followed by a subsequent purchase and option taking its voting rights to 6.8%,whose most advanced asset, Nkout, and its other projects are located in Cameroon.
IMIC shares are traded on the London Stock Exchange's AIM market under the ticker symbol IMIC.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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