RENEE MONTAGNE, Host:
NPR's business news starts with China's latest move in Africa.
(SOUNDBITE OF MUSIC)
MONTAGNE: In this deal, the Chinese company, Shandong Iron and Steel, will pay one-and-a- half billion dollars for a 25 percent stake in a mine owned by the company African Minerals. The investment will go towards developing the mine, as well as rail and port infrastructure needed to get the iron ore out of Sierra Leone. The deal also allows China to secure long-term iron ore supplies at discount prices.
NPR transcripts are created on a rush deadline by Verb8tm, Inc., an NPR contractor, and produced using a proprietary transcription process developed with NPR. This text may not be in its final form and may be updated or revised in the future. Accuracy and availability may vary. The authoritative record of NPR’s programming is the audio record.