so whats cape lambert worth, page-68

I'm pretty sure this is what the West Australian is alluding too, there is more on this on African sites, am surprised it has taken as long (note the date)


South Africa: Probe to Rubber Stamp $1,6bn Delta Deal

Business Day (Johannesburg)


3 March 2008
Posted to the web 3 March 2008


Charlotte Mathews
Johannesburg


A MANDATORY due diligence investigation is expected to be finalised later this year to formalise the Liberian government's award of the $1,6bn Western Iron Ore Cluster project to unlisted SA-based junior miner Delta Mining Consolidated, Delta said on Friday.

The provisional award of the project, which covers three mining areas, a pelletising plant and road, rail, power, water and upgraded port facilities, was announced by Liberian President Ellen Johnson Sirleaf in January.

According to media reports, Delta outbid Tata Steel, Arcelor Mittal and Sinosteel Corporation for the project.

Delta would also draw up a community development action plan including elements such as poverty alleviation, social development, training and empowerment of local communities, it said.

"Technically and financially, Delta in its own right -- and through strong associations with key players such as the Industrial Development Corporation , Cape Lambert Iron Ore, The Mineral Corporation and Canaccord Adams -- has not only the capacity to develop a world class mine, but also the infrastructure to support such a project," Delta CEO Heine van Niekerk said.

Van Niekerk could not be reached on Friday for more details of the company's financing plans or partnerships. The company's website said it planned to outline an indicated resource from three deposits that would be used to raise funds.

It envisaged production of 5-million tons of ore a year from each of the Mano River and Bomi deposits and 10-million tons a year from the Bea deposit.

The News of Monrovia reported on Friday that a delegation of Delta representatives would spend two days in Liberia "with the objective of providing information to the Liberian people about the company".

http://www.deltamining.com/pages/content.php?pid=press_4