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

MSCLFFLLDRIAIIV

Afferro Min (LSE:AFF)
Historical Stock Chart
From Apr 2024 to May 2024 Click Here for more Afferro Min Charts.
Afferro Min (LSE:AFF)
Historical Stock Chart
From May 2023 to May 2024 Click Here for more Afferro Min Charts.