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Sphere delays Askaf start

28th October 2014

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – The ASX-listed subsidiary of Glencore, Sphere Minerals, on Tuesday announced it would slow down the development of the Askaf iron project, in Mauritania, as it initiated a review.

In a release to the market, the miner said that taking into account the time involved in this review, it was expected that the start of production at Askaf would be delayed.

The $900-million project had initially been slated to start production in 2017.

In June this year, Sphere signed an 18-year rail and port agreement that would allow the company to transport iron-ore from the Askaf project on port and rail facilities owned by Societe Nationale Industrielle et Miniere de Mauritanie.

Edited by Creamer Media Reporter

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