Steel firm gets full control of African mine
State-owned Shandong Iron and Steel Group Co Ltd said on Monday that it has acquired the remaining 75 percent stake it does not own in a mining project in western Africa's Sierra Leone.
Shandong Steel had earlier acquired a 25 percent stake in the project, Tonkolili Iron Ore mine, for about $1.5 billion in 2011.
With the completion of the stake purchase from the loss-making African Minerals Ltd, Shandong Steel also owns the associated infrastructure company African Port and Railway Services.
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