What Is Iron Ore?
Iron ore is a mineral that is rich in iron and oxide. It is found in rocks and minerals in any of several forms, including magnetite, hematite, geothite, limonite and siderite.
Metallic iron is used mainly in the production of steel. And steel is essential for many industries. It’s used in engineering applications, repair and construction of maritime equipment and vessels, automobile manufacture, construction and general industrial activities.
Mining iron ore entails excavating sedimentary rocks, extracting the metallic iron and then dumping waste materials, including rocks that aren’t ore. The extracted ore is then transported by rail and ship to markets around the world.
WAI Capital Investments Corp. (WAI) is an early-stage iron ore exploration company working in Guinea, West Africa and publicly listed on Canada’s Toronto Stock Exchange (TSX Venture Exchange – Stock Symbol: WAI). The company is dedicated to the sustainable development of its mineral resources and nurturing a harmonious working relationship with the local community and the Guinean authorities. Advocating the minimization of environmental impact and the promotion of economic opportunity for all our stakeholders, their phased exploration program aims to establish the existence of minable iron ore mineral reserves in sufficient quantities to permit viable production of iron concentrate and other mineral deposits.
Republic of Guinea
Guinea belonged to a series of empires until France colonized it in the 1890s, and made it part of French West Africa. Guinea declared its independence from France on October 2, 1958.
On November 16, 2010 – after a successful democratic election – Alpha Conde was declared the new president.
Occupying 246,000 square kilometers, Guinea forms a crescent by curving from its western border on the Atlantic Ocean toward the east and the south. Its northern border is shared with Guinea-Bissau, Senegal, and Mali, the southern one with Sierra Leone, Liberia, and Cote d’Ivoire. The Niger River arises in Guinea and runs eastward.
Guinea is roughly the size of the United Kingdom and slightly smaller than the U.S. state of Oregon. There are 300 km of coastline and a total land border of 3,400 km.
Guinea’s 10 million people belong to twenty-four ethnic groups. The most prominent groups are the Fula, Mandinka, and Susu.
Conakry (pop. 1,548,470) is the capital, the seat of the national government, and the largest city.
Guinea has abundant natural resources including 25% or more of the world’s known bauxite reserves, and an abundance of diamonds, gold and iron ore.
Other industries include processing plants for beer, juices, soft drinks and tobacco. Agriculture employs 80% of the nation’s labor force.
In 2010, Guinea’s GDP growth rate was 3.3%.
Sid Rajeev, MBA, CFA,
Fundamental Research Corp.
+1 (604) 682 7065
Disclaimer: Please note that any opinions, estimates, or forecasts regarding WAI Capital Investments Corp. (formerly West African Iron Ore Corp.) performance made by these analysts are theirs alone and do not represent opinions, forecasts, or predictions of WAI or its management. WAI does not, by its reference below or distribution, imply its endorsement of, or concurrence with, such information, conclusions, or recommendations.
WAI Capital Investments Corp. does not provide analyst reports to persons outside of the company. Please contact the research analyst directly to obtain a report.
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