Kazakh ENRC mulls African Minerals bid, convertible

MOSCOW (Reuters) - London-listed Kazakh miner ENRC is considering a bid for Sierra Leone miner African Minerals and has been discussing the issue of a convertible bond, banking sources said on Friday.

"They are interested in AMI (African Minerals), which recently discovered the world's third-largest (magnetite) ore deposit," one source said.

London based spokesmen for both African Minerals and ENRC declined to comment on the possibility of a bid.

African Minerals "is focused on accelerating the development of its Tonkolili iron ore project in Sierra Leone," the African Minerals spokesman said.

"We are not currently looking at a convertible bond," ENRC's London based spokeswoman said.