Sesa Goa has signed an agreement with Elenilto Minerals & Mining LLC to acquire a 51% stake in Elenilto’s wholly-owned subsidiary Western Cluster Ltd, Liberia (WCL) for a cash consideration of USD 90 million. Situated in the western part of Liberia with an estimated reserve of more than 1.05 billion mt of iron ore, WCL will develop the Western Cluster Iron ore project in Liberia which consists of developing iron ore deposits and necessary transportation and shipping infrastructure for export of iron ore. WLC’s assets are also close to existing port infrastructure. This acquisition makes Sesa Goa a major player in the upcoming West African Iron Ore hub, catering to the seaborne iron ore market.
