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New York, US-based iron ore mining company WorldVest, Inc, which does
business as Iron Mining Group, S.A (IMG), has announced that it has completed
the acquisition of Chile-based iron ore miner Chile Inversiones de Minerales,
Ltda (CIM).
IMG has said that CIM will serve as an operating subsidiary
to IMG, allowing IMG the ability to consolidate various iron ore mining
opportunities along with complementary port and logistics infrastructure in
Chile.
As SteelOrbis previously reported, it is projected that by the fourth quarter
of this year CIM will begin mining iron ore from several of its mineral
concessions, allowing for regular monthly deliveries against its existing
contracts with Chinese steel groups and creating immediate consolidated revenue
for IMG. The newly acquired company will start implementing a profound growth
plan.
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