Cape Lambert Owns Majority Stake in African Iron-Ore Projects

Mining Weekly reports that Cape Lambert (ASX:CFE) has taken majority ownership in two potentially large-scale West African iron-ore projects.

The market news is quoted as saying,

Cape Lambert has acquired a further 42.8% shareholding in the company, taking its final stake to 90.2%. The copper miner paid A$16.33-million in cash, as well as A$32.67-million through the issue of 54.45-million Cape Lambert shares, at a deemed price of 60c a share.

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