Afferro Mining and partner Severstal are accelerating their Putu iron ore joint venture in Liberia, where drilling has increased the resource by 36 per cent to 3.24bn tonnes. The partners now aim to complete the pre-feasibility study in the first quarter of 2012 and the full feasibility study a year later. The resource is likely to increase further with four rigs having drilled just 28,000 metres of a 48,500-metre programme and many drill cores still to be assayed.
IC TIP:
Buy
