Afferro Mining soars on Putu sale

Afferro Mining, the west Africa focused iron ore company, is to sell its 38.5% stake in the Putu iron ore project in Liberia.

Afferro Mining, the west Africa focused iron ore company, is to sell its 38.5% stake in the Putu iron ore project in Liberia.

The sale, to the majority shareholder Severstal, will see an initial cash payment of $65m in addition to a deferred payment of $50m. If the project is then sold on to a third party Afferro will be due a further consideration.

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