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Mauritania state mining firm signs iron ore deal with Glencore

Reuters - UK Focus

NOUAKCHOTT, June 4 (Reuters) - Mauritania state mining firm SNIM has finalised a deal with Glencore Xstrata Plc (Other OTC: GLCNF - news) to exploit its Askaf iron ore mine in exchange for access to its rail, port and storage facilities, SNIM said in a statement on Wednesday.

The deal will last for 18 years following the start of production at the mine which is located in the northern region of Fderick, the statement said. (Reporting by Laurent Prieur; Writing by Emma Farge; Editing by Erica Billingham)