IMIC seeks Chinese funding for its iron project

IMIC, a mining company listed in London among its assets in Africa the iron project Nkout of 2.7 billion tonnes of resources in the South of Cameroon, will rely on CITIC Securities Co., Ltd. to raise Chinese funds for his projects.

The company revealed this on 12th January after having appointed the Investment Bank through a contract to direct and coordinate access to new sources of funding in the Asian market including Hong Kong and the Mainland to support the development of the railway and associated infrastructure operating assets.

CITIC securities will help identify new strategic partners and potential investors for the mining company which has announced its intention to begin in 2015 the final feasibility study of the railway Nkout project whose total resources DSO to 43.2% of iron increased 68% to settle at 252Mt.

"China is at the heart of the IMIC strategy and its projected production of iron ore market" as noted a few days ago by Ethelbert Cooper, chairman of IMIC.

IMIC intends to learn, pay special attention to smaller Ntem deposit, located 80 km from the port of Kribi, which it wants to accelerate feasibility studies without turning away from other opportunities on the railway in West and Central Africa.