"This reporter learned that, Cameroon has two iron ore deposits, which are located Mbalam and Kribi, ore homogeneous, the general quality and grade of 30% to 40%. Wuhan Iron and Steel is interested in mining in southeastern Cameroon Mbalam hematite.
Informed sources told reporters that Wuhan Iron and Steel will likely take a similar approach with the aluminum, the establishment of a Chinese consortium, including financial institutions, infrastructure contractors, steel mills, traders and so on.
Currently, the Construction Group have indicated their willingness to join the consortium. However, the demonstration project is still in the early stages of the cooperation program of Wuhan Iron and Steel Development Mbalam not been determined.
Wuhan Iron and Steel expressed a strong interest on the Mbalam reason is that Africa is the Wuhan Iron and Steel to find another focus of overseas resources base."
Butchy.
SDL Price at posting:
31.0¢ Sentiment: Buy Disclosure: Held
