bad blood between china and rio ore sales team, page-25

Hi All.

July 8th 2009.

Cameroon Revamping the Economy-Mining,Industrial Emergency Plan Afoot.

All hands are already on deck at the Ministry of Industries,Mines and Technological Development following the firm instructions of the Head of State to review action programmes and produce palpable results within the next six months.

They want to hasten the execution of the road map announced at the beginning of the year.

The mining sector has attracted multinationals,new discoveries are being made,negotiations and feasibility studies launched but results remain surprisingly timid.

Early signs that the global economy is picking up are beginning to show.We should be ready to seize the ensuing opportunities,President Paul Biya said.Major projects in the mining and industrial sectors have been on course for years and that deadline for some have come and passed.They are not new projects.So,what the Head of State certainly meant was that they should be drawn to their logical conclusion having rested in drawers beyond expected time.

(Sounds like some projects could be taken away from companies who have done nothing to prove up the minerals in the ground.)

They have to sit up,reactivate projects that have gone into limbo and search for ways of getting them financed.

It is hoped that many more mining licences will be issued out to ensure that the wealth Cameroon has underneath do not remain fallow while we keep beating our chest we have potentials.
Like one diplomat stated recently,potentials do not develop a country.

I cut it a bit short but most of the main points are there.

Regards
Westcott.