West Perth-based mining company Sphere Investments Ltd has announced the acquisition of a 49.9 per cent stake in its Guelb el Aouj iron ore joint venture by Saudi Arabia Basic Industries Corporation and Qatar Steel, for $440.7 million.

West Perth-based mining company Sphere Investments Ltd has announced the acquisition of a 49.9 per cent stake in its Guelb el Aouj iron ore joint venture by Saudi Arabia Basic Industries Corporation and Qatar Steel, for $440.7 million.