Gerald Group settles Marampa iron conflict—grants 10% free carried interest to Sierra Leone
The US trader was under pressure for months to strike a deal with Sierra Leone President Julius Maada Bio—who was personally involved in the negotiations—as iron prices continue to rise.
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▪ Gerald Group settles Marampa iron conflict—grants 10% free carried interest to Sierra Leone
▪ The US trader was under pressure for months to strike a deal with Sierra Leone President Julius Maada Bio—who was personally involved in the negotiations—as iron prices continue to rise.
▪ https://www.africabusinessplus.com/en/807848/gerald-group-settles-marampa-iron-conflict-grants-10-stake-to-sierra-leone/
The price of the ore used to make steel jumped another 10% in the past 24 hours, reaching $226 per tonne in Singapore. This jump was primarily due to the Chinese economy’s comeback and the strong ask from local steelmakers.
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