IFC Takes On $5M Stake In African Eagle Nickel Project

Law360, New York (January 4, 2012, 4:56 PM EST) -- The World Bank's International Finance Corp. has agreed to purchase a 10 percent share in East Africa mining company African Eagle Resources PLC for £3.1 million ($4.8 million) in an effort to invest in the company's Dutwa nickel project, African Eagle announced Wednesday.

The agreement, which comes less than two months after the IFC proposed the deal, is expected to close this month. The cash influx will help African Eagle complete a feasibility study for the Dutwa nickel project, a formation in Northern Tanzania that is...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.