Kumba announced a $10.5m Liberia-based greenfields exploration tie-up with Jonah Capital, which will partner with Kumba in two exploration ventures at Liberia's Gbarnga and Kalasi. The $10.5m would be spent over three years before the projects are reassessed.
"These are our only assets in West Africa at the moment, and the first to form part of our expansion strategy to West and Central Africa," said a Kumba spokesperson. Liberia, together with Guinea and Sierra Leone in west Africa are emerging as a sought-after iron ore region. Around 17 million tonnes (Mt) of production capacity is expected to come on stream by the end of 2013, from below 2Mt at present.
Jonah Capital, which previously secured ownership of the concessions, holds another four iron ore prospects in Liberia and has been operational in the country for six years, Miningmx.com reports.
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