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Qatar Steel walks away from Sphere deal
21-August-08
Written by Edited announcement

West Perth-based mining company Sphere Investments Ltd is looking for a new partner for its Mauritanian iron ore project, after Qatar Steel walked away from acquiring a 15 per cent interest worth $130 million.

Sphere said Qatar was unable to execute formal agreements to acquire the interest in the Guelb el Aouj iron ore project on terms acceptable to it and its project partner, Société Nationale Industrielle et Minière.

The agreements provided for the acquisition of a 15% interest for $US113 million.

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