CLIO Cape Lambert

    RNS Number : 9895H
  Cape Lambert Iron Ore Limited
  12 November 2008
   

    12 November 2008


    CAPE LAMBERT IRON ORE LIMITED
        
    Marampa to have a right to access existing Rail and Port facilities

    On 1 October 2008, Australian domiciled iron ore company Cape Lambert Iron Ore Limited ("Cape Lambert" or the "Company") (ASX: CFE, AIM:
CLIO) formalised an agreement ("Agreement") relating to a 30% investment in Marampa Iron Ore Limited ("Marampa"), a wholly owned subsidiary
of African Minerals Limited ("African Minerals") (AIM: AMI) and owner of the Marampa Iron Ore project ("Marampa Project") in Sierra Leone.

    The Company notes the AIM announcement made by African Minerals dated 12 November 2008 in respect to entering into an infrastructure
lease with the Government of Sierra Leone ("GoSL") over the Pepel Port and the Pepel - Marampa railway ("Infrastructure Facilities"). The
lease enables African Minerals to maintain and operate the Infrastructure Facilities on a commercial basis. A full copy of the African
Mineral's AIM announcement can be viewed at www.londonstockexchange.com/LSECWS/IFSPages/MarketNewsPopup.aspx?id=2018170&sour ce=RNS.

    Pursuant to the Agreement, on grant of a lease to African Minerals by the GoSL for the Infrastructure Facilities, African Minerals is
required to grant access rights to the Infrastructure Facilities to Marampa on commercial terms to be agreed by Cape Lambert and African
Minerals. This will enable the Marampa Project, if a mining operation is established, to access the Infrastructure Facilities to transport
iron ore concentrates to Pepel for export.

    Executive Chairman Tony Sage commented "this is an important development in relation to our 30% investment that will reduce the
barriers, and capital expenditure required to establish a mining operation at Marampa".

    For further information please contact:


 Cape Lambert Iron Ore Limited:
 Tony Sage                       +61 (0)8 93809555

 Australian Enquiries:
 Professional Public Relations
 David Tasker                    +61 (0)8 9388 0944

 UK Enquiries:
 Nominated Adviser:
 Grant Thornton UK LLP           +44 (0)20 7383 5100
 Fiona Owen

 AIM Broker:
 Collins Stewart Europe Limited
 Adrian Hadden                   +44 (0)20 7523 8353
 Oliver Quarmby                  +44 (0)20 7523 8354

 Conduit PR
 Jos Simson                      +44 (0)20 7429 6603
 Jane Stacy                      +44 (0)20 7429 6606

 Website:
 www.capelam.com.au


This information is provided by RNS
The company news service from the London Stock Exchange
 
  END 
 
MSCGGMMMGZLGRZM

Cape Lambert Iron Ore (LSE:CLIO)
Historical Stock Chart
From May 2024 to Jun 2024

Cape Lambert Iron Ore (LSE:CLIO)
Historical Stock Chart
From Jun 2023 to Jun 2024