Askaf iron-ore project, Mauritania
Name and Location
Askaf iron-ore project, Mauritania.
Client
Sphere Minerals, a subsidiary of Glencore.
Project Description
The project has the potential to create a 7.5-million-tonne-a-year opencut mine.
Net Present Value/Internal Rate of Return
Not stated.
Value
$900-million.
Duration
The project has been delayed. It was initially slated to start in 2017.
Key Contracts and Suppliers
None stated.
Latest Developments
Sphere Minerals will slow down the development of the Askaf iron project as it initiates a review of the project.
Taking into account the time involved in this review, it is expected that the start of production at Askaf will be delayed.
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.
On Budget and on Time?
The project has been delayed.
Contact Details for Project Information
Sphere Minerals, tel +61 8 9 322 5222, fax +61 8 9 322 5444 or email info@sphereminerals.com.au.
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