IMIC Intl Min&IN Crp

TIDMIMIC

RNS Number : 8369B

Intl Mining & Infrast Corp PLC

12 January 2015

12 January 2015

INTERNATIONAL MINING & INFRASTRUCTURE CORPORATION PLC

("IMIC" or the "Company")

Appointment of CITIC Securities

International Mining & Infrastructure Corporation plc(AIM: IMIC), the company focused on unlocking the value of African iron ore, announces the appointment of CITIC Securities Co., Ltd ("CITICS"),a leading full-service investment bank in the People's Republic of China ("PRC"), in connection with the raising of financing in China.

CITICS will seek to provide access to new sources of capital for IMIC in the Asian market, including Hong Kong and Mainland China, to support the Company's strategy of consolidating iron ore mining assets and developing associated common infrastructure.

As one of the leading full-service investment banks, CITICS provides a diversified range of financial services, solutions and products, including investment banking, brokerage, asset management, investment advisory services. Established in 1995 and headquartered in Beijing, CITICS is one of the largest investment banks in China and listed on the Shanghai Stock Exchange. CITICS is well known for its powerful franchise and rich client base. Its parent company is CITIC Group.

Under the terms of the engagement, CITICS will lead and coordinate the fundraising and its role will include the identification of additional strategic partners and potential new investors for the Company from the People's Republic of China.

Ethelbert Cooper, IMIC's Chairman, commented: "CITICS is the leading investment bank in the PRC and it is well placed to gain access to new sources of capital for IMIC in the region. China is central to IMIC's strategy as the customer for its anticipated iron ore production, which, along with its work with major Chinese companies in the steel supply chain, will give resonance to the IMIC story in the PRC investment community."

For further information, please contact:

 
 International Mining and Infrastructure                 www.imicplc.com 
  Corporation plc 
 Ethelbert Cooper, Chairman 
  Haresh Kanabar, Chief Financial Officer           +44 (0) 20 7290 3340 
 Strand Hanson Limited - Financial & Nominated    www.strandhanson.co.uk 
  Adviser                                           +44 (0) 20 7409 3494 
  James Spinney / Ritchie Balmer / James 
  Bellman 
 Pareto Securities Limited - Sole Broker               www.paretosec.com 
  Guy Wilkes / Will Slack                           +44 (0) 20 7786 4370 
 Buchanan                                            www.buchanan.uk.com 
  Mark Court / Sophie Cowles                        +44 (0) 20 7466 5000 
 

About IMIC

IMIC's strategy is, in conjunction with its partner AIOG, to develop fundable solutions to infrastructure provision for iron ore resources in West and Central Africa. In support IMIC will seek to acquire interests in junior iron ore miners which would benefit from a specific infrastructure solution. IMIC made its first investment with the Dec 2013 acquisition of Afferro Mining Inc, taking ownership of four iron ore deposits in Cameroon, the most advanced asset being Nkout. IMIC plans to continue to develop its assets, including accelerating the feasibility studies of the smaller Ntem deposit, which is located only 80km from Kribi deep water port.

IMIC's focus will initially be on iron ore opportunities in West and Central Africa. The demand for iron ore is currently being driven by China which consumes approximately 70 per cent. of the world's current annual production. As the urbanization of China continues demand for iron ore is expected to remain at significant levels through to 2030. The iron ore projects currently identified in West and Central Africa have the potential to produce at least 400 million tonnes of iron ore each year. This would establish Africa as a global player, alongside Australia and Brazil, in the iron ore industry.

In order to help deliver its infrastructure solutions, IMIC and AIOG have established strategic partnerships with various Chinese state owned companies. These companies are involved in railway and port construction, power, iron ore beneficiation and iron ore marketing. These relationships are intended to give IMIC and AIOG the ability to work with relevant governments and financial institutions to deliver infrastructure solutions and to guarantee the onward sale of iron ore in China.

IMIC shares are traded on the London Stock Exchange's AIM market under the ticker symbol IMIC.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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