It is reported that publicly listed mining company PT Bumi Resources Mineral had secured permission to exploit iron ore sites in Tamagot, Mauritania.

According to documents submitted to the Indonesia Stock Exchange, BRMS obtained the permission on January 13.

The file also said that BRMS fulfilled a Mauritanian requirement and established a new firm, Tamagot Bumi SA so it could begin work on the iron ore site in the West African country.

Mauritanian regulations allow the local government to buy a stake in Tamagot Bumi.

The file said “In this case, the government of Mauritania has exercised its right. Therefore, its ownership in Tamagot Bumi is 20%.”

(Sourced from www.thejakartapost.com)