Afferro Mining $190m takeover approved by Canada

Cameroon-focused iron ore miner Afferro Mining (TSX-V:AFF) (AIM:AFF)  said Thursday it has got the go-ahead for a  $190 million takeover by International Mining & Infrastructure Corp (IMIC).

The deal, approved by the British Columbia Supreme Court, remains conditional on IMIC shareholders’ support and the satisfaction or waiver of the conditions to closing, including receipt of all necessary regulatory approvals.

The junior’s portfolio includes the 100% owned Nkout, Ntem and Akonolinga iron ore projects in Cameroon. It also holds a 70% interest in the Ngoa project, an exploration target bordering Nkout.