Shares of iron miner Bellzone were on the rise this morning after the company agreed to sell all of its share of output from the Forecariah mine in Guinea to commodities trading giant Glencore.
Bellzone Mining PLC Mining News
Bellzone Mining announced on Tuesday that it had completed a US$133 million placement of 102 million ordinary shares. Canaccord Genuity Limited was the lead manager. Bellzone, an AIM-listed company, is developing two iron ore and nickel/copper assets in Guinea, West Africa. The Kalia iron deposit, a 50mtpa iron ore operation, is the company's flagship project.