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Canadian, Australian miners join forces in Mauritania

Canada’s Chilean Metals (TSXV: CMX) signed a C$4.5 million funding term sheet for the creation of a joint venture vehicle with Australia’s Aura Energy (ASX: AEE, AIM: AURA) for its gold, base and battery metal tenements in Mauritania. In a press release, the companies said the transaction will see Aura progressively sell its licenses in …

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China to Approve Developing Guinea’s Giant Simandou Iron Ore Mine

China is close to giving the go-ahead for some of its biggest state-owned companies to develop the giant Simandou iron ore mine in Guinea, potentially paving the way for the project to be built after years of legal wrangling. China’s State-owned Assets Supervision and Administration Commission, which oversees the biggest government-owned enterprises, is actively pushing …

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China-backed consortium in $14 billion Guinea iron ore deal

The Société Minière de Boké – Winning consortium offered $14 billion to win a tender to develop part of Guinea’s Simandou iron ore project, edging out Australia’s Fortescue, sources familiar with the talks told Reuters. The consortium – representing Chinese, French, Singaporean and Guinean interests – has committed to developing blocks 1 and 2 of …

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Made in Senegal? New industrial park woos Chinese firms

DAKAR (Reuters) – Four new factory buildings rise up from fields on the outskirts of Senegal’s capital, the first phase of a government plan to woo Chinese companies shifting low-end manufacturing to Africa as wages in East Asia rise. African countries are vying for millions of jobs that China is expected to shed. So far …

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