Steel firm gets full control of African mine

State-owned Shandong Iron and Steel Group Co Ltd said on Monday that it has acquired the remaining 75 percent stake it does not own in a mining project in western Africa's Sierra Leone.

Shandong Steel had earlier acquired a 25 percent stake in the project, Tonkolili Iron Ore mine, for about $1.5 billion in 2011.

With the completion of the stake purchase from the loss-making African Minerals Ltd, Shandong Steel also owns the associated infrastructure company African Port and Railway Services.