Severstal closes deal for majority stake in AIOG

Dec 10, 2008 | 10:28 AM | Rob Hartley

OAO Severstal has closed a deal to buy a majority stake in African Iron Ore Group (AIOG), the Cherepovets, Russia-based company said.

Severstal paid $37.5 million for 61.5 percent of AIOG, which has exploration rights for an iron ore deposit in the Putu Range of Liberia. It paid $22.5 million for the purchase of a 45-percent....

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