**on to review china's belinga deal, page-3

Hi (syd388)

I think the Environmentalist Groups would prefer VALE get the contract to push ahead with Belinga.
I posted a few months ago that VALE had told the Gabon Government,that if the chance came up for them again,they would tender for Belinga again.

I think that the Gabon Government see the opportunity to get Belinga started up because of the progress SDL have made and see this as a means to get their iron ore to market through SDL's rail and port.Doing it this way they are on side with the big Environmental Groups and funding agencies.

We could see as has been spoken about,the other iron ore projects in Northern Gabon and North/West Congo joining up in some way with SDL to mine and get their iron ore to market.
They would all be struggling with cost's and getting approvals to build rail and infrastructure to start exporting their iron ore because of the location of the proposed mines.

The Chinese would have known that VALE still had an interest in progressing Belinga if they got the chance.
The Chinese have moved their interest along quickly into Cameroon in the last six months or so.
Chinese getting involved in funding projects from schools,sports stadiums,water,hydro plants,mineral projects and more.We have also seen delegations from China in Cameroon giving very low rate loans over 20 years or more and also giving out non-repayable grants to Cameroon.

VALE are the masters when it comes to iron ore especially Itabirite type iron ore.
All the big projects in this part of West Africa has very large amounts of Itabirite under the DSO caps.
Some of the Itabirite mines in Brazil are coming to the end of their life span in Brazil after a life of around 60 years in the case of one project.

Regards
Westcott.