VOL. XLIII

No. 27

3-July-2000

MOROCCO

Moroccos ONA Group To Raise Stake In Canadas Semafo

Moroccos largest holding company, the ONA Group, plans to raise its stake in the Canadian mining firm Semafo from 34% to 51%. The majority stake will cost ONA $30mn, including the 34% that it bought last October. According to ONAs director, quoted by Reuters on 26 June, the higher stake will allow Semafo to become an "international development platform" for ONAs mining operations.

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