Bellzone Mining's joint venture Forecariah has sold a trans-shipping vessel for $8.9m (£5.8m).
An in-depth analysis into the operational efficiency of the Forecariah operations showed that the ship was neither an operational requirement nor a material economic benefit, and thus there was no reason to keep it.
Earlier this year, Bellzone and China International Fund Ltd (CIF) established a 50:50 joint venture (JV) with a commitment to fully fund accelerated exploration, and development of a mine and infrastructure of the Guinea Development Corporation Forécariah iron permits between 30km to 80km from the Guinea coast.