IMIC Signs Cameroon Offtake Agreement With Hebei
News: UK mining company IMIC has stated that Chinese group Hebei Iron and Steel has signed an offtake agreement to purchase iron ore produced from its Nkout development project in Cameroon, Mineweb reports. The company, which is in the process of acquiring the project from Canadian exploration firm Afferro Mining , stated that the deal would play a vital role in financing the project.
BMI View: Cameroon is well-poised to become a major centre for iron ore production, on the back of several large-scale mining projects and expansion plans scheduled to come online over the coming years. However, Cameroon's inadequate infrastructure could hinder the development of the country's potential.