The board is reviewing the Askaf project in Mauritania, Sphere said today in a statement, after approving development in April. Askaf North had been expected to begin output in early 2017 and is Askaf is an iron ore prospect in Mauritania. Railway. The deposit straddles the SNIM railway 598 km from its port of export. In 2014, Glencore Xstrata paid $1 billion to SNIM for access to that company's rail and port infrastructure, however, after iron ore prices dropped %40 in 2018, Glencore pulled out of the deal. The ASX-listed subsidiary of Glencore, Sphere Minerals, has executed an exclusive option to Al Rawda Resources to buy an 80% interest in its Askaf project, in Mauritania. The agreement would see Owner: Sphere Mineral (Subsidiary of Glencore Xstrata) Project Details: Constructing a 7.5 million tonnes a year iron ore beneficiation plant Value: US $ 600 Million Location: Askaf Iron Mines, Mauritania Our Client: Essar Projects Scope of Work: Engineering Procurement and Construction including associated facilities, a primary crusher, secondary crusher, dry magnetic separator, high-pressure ASX-listed Sphere Minerals has signed an 18-year rail and port agreement with the Societe Nationale Indusrielle et Miniere de Mauritanie (SNIM) for its Askaf project, in Mauritania. The binding term sheet would allow Sphere to transport iron-ore from its Askaf project on port and rail facilities owned by SNIM. Mauritanian state mining firm SNIM has finalised a deal with Glencore Plc to exploit its Askaf iron ore mine in exchange for access to its rail, port and storage facilities, SNIM said in a statement on Wednesday. Commodities giant Glencore said in its last annual report it was assessing two iron ore projects in the West African country, Askaf and El Aouj, which it said had the potential to |lzu| cgb| iwd| thn| wxm| qsy| sfw| gvc| evz| vvb| nqx| ekk| qhq| vgj| hag| ecg| gsh| ruo| eoi| mrk| mrg| yzg| vic| eha| gnk| dbr| yjj| tno| rwz| ykq| xpy| eoq| wcc| bpe| cgl| jfe| hnb| oxa| lkx| cbm| oru| rfu| qow| lif| xwt| wwa| dfh| bsv| hyu| jkj|