Intl Mining & Infrast Corp PLC Purchase of Further Shares in Afferro Mining (9613I)
10 Juillet 2013 - 8:00AM
UK Regulatory
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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