Sable Mining Raises £17.1 Million for Nimba Iron Ore Mine

African Business Review reported that Sable Mining (LSE:SBLM) has raised £17.1 million from to accelerate development of the company’s flagship Nimba Iron Ore Project in south-east Guinea.

As quoted in the market news:

Sable Mining is targeting the completion of a Bankable Feasibility Study in the first half of 2014 ahead of scheduled commencement of commercial production in 2015.

Nimba has a current JORC Resource of 135.5 million tonnes at 59.4 percent iron (Fe) and is targeting the delineation of a total JORC Resource of 200 million tonnes of high grade direct shipping ore (DSO) by Q4 2013. 

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