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Financing failure sees Sage switch back to iron ore

CAPE Lambert Resources' plans to finance the Kipushi cobalt-copper tailings project in the Democratic Republic of Congo have collapsed in a heap, so the Tony Sage-led company has turned its back on the million development, chasing the payday it sees in resurrecting the mothballed Marampa iron ore project in Sierra Leone.

Haydn Black
Marampa is set to be Cape Lambert's new focus.

Marampa is set to be Cape Lambert's new focus.

Cape Lambert says it appears its Kipushi backers cooled on the project due to a fall in the cobalt price from US$95,000 per tonne to less than $40,000/t, the challenging security situation and an uncontrolled...

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