The more miners going broke in West Africa the better for SDL.
The more miners going broke in Brazil the better for SDL.
I believe the biggest supplier to Europe of iron ore is from Brazil. Contract signed in the last 12 months or so. I read it about a month ago,will have to Google it if I can find it.
SDL are not confined to supplying China with all their iron ore.
Noble Group have from around 50%, the other 50% could go else where.
I believe Cameroon Government want around 15% for local Steel Mill that is to be built. The Cameroon Government asked SDL to be part of the ownership with them and Posco.
At least two miners gone into administration and one closed down in the last two months in West Africa that I know of.
Simamdou not likely to be into production for at least another 7 to 10 years at least I would hazard a guess.
What other high grade iron ore projects are in Central West Africa?
All large high grade in Central Africa are in the area of SDL's projects.
Most high grade in West Africa are in Guinea and have a lot of Government problems to get over, due to past Government corruption problems that could take many years through the courts to sort out.
The Europe and Middle East/Arab States iron ore markets are easily within reach and not covered by The Big Three very well. Too far from Australia and not as close as SDL from Brazil.
Regards
Westcott.
SDL Price at posting:
2.1¢ Sentiment: None Disclosure: Held
