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FINANCIAL NEWS
Xstrata to invest $6b in Mauritania
14 Nov 2010
(MENAFN) Mauritanian Industry and Mines Minister Mohamed Abdellahi Ould Oudaa said that Xstrata Plc will invest $6 billion in the country to produce 50 million metric tons of the steelmaking ingredient a year, Bloomberg reported.
Xstrata, based in Zug, Switzerland, plans to achieve the production figure in the short term, Oudaa said in a conference in Nouakchott, the capital.
Xstrata, seeking to boost access to ore supplies as prices rise, is close to completing the $520 million purchase of Sphere after securing acceptances from more than half of the Australian company�s shareholders.
Sphere�s projects in Mauritania include half of the $1.65 billion Guelb el Aouj development.
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BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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