Tombador Iron Ltd. (AU:TI1) has released an update.
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Tombador Iron Ltd. has signed an agreement to acquire the Colomi Iron Project in Brazil, which boasts a vast iron ore resource exceeding 5 billion tonnes. The acquisition is poised to transform Tombador into a significant player in the premium-grade iron ore market, with plans to raise up to $7 million and rebrand as Colomi Metals Limited. This strategic move aims to meet the rising global demand for high-quality iron ore and support the decarbonization of the steel industry.
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