Translated from French:

G.a.b.o.n: Le projet d’exploitation de la mine de fer de Belinga relancé

By Jean Kelly Kouassi
Posted on 01 December 2021 at 16:47 | updated on 01 December 2021 at 16:47

An agreement was signed between **on and the Australian mining group Fortescue Metals Group (FMG) on November 24 at the Palais Rénovation, seat of the Presidency of the Republic. The agreement was reached at the Presidency in the presence of the Ministers of the Economy, Nicole Janine Lydie Roboty, of Mines, Vincent de Paul Massassa, and of the Environment, Lee White.

**on- Relaunch of the Belonga iron mine exploitation project: The role played by Noureddin Bongo Valentin

The agreement covers a 12- to 18-month study program on the iron ridges of Mount Belinga in the northeastern province of Ogooué-Ivindo. If the studies prove conclusive, reveals Libreville, Fortescue will operate the Belinga iron mine while ensuring compliance with sustainable development standards, of which **on is one of the champions in Africa. For example, green hydrogen will be used as a source of energy.

Our source adds that the conclusion of this agreement comes following a meeting, three weeks earlier, on November 2, in Glasgow, on the sidelines of the COP 26, between the boss of FMG, the Australian magnate Andrew Forrest, and the former general coordinator of presidential affairs, Noureddin Bongo Valentin, to whom the President of the Republic has entrusted a certain number of "follow-up missions".

Among these is the "revival of the mining sector, operated in a sustainable manner, with strict respect for the environment", in the form of a mission note signed by the Presidency. A file on which Noureddin Bongo Valentin began working at the start of 2020. After a little over a year and a half of work, he is therefore on the way to bringing to fruition a project that has been on the verge of over twenty years. A great achievement.

“The partnership between **on and Fortescue (…) revives a project in a state of prolonged sleep since the withdrawal, in 2012, of the China Machinery Engineering Corp (CMEC) from the operating company of the site, the Compagnie minière de Belinga, to non-execution of the mining agreement, ”recalls La Lettre du Continent in an article published on Tuesday, November 30. “The Chinese parastatal group was to build a railroad to Santa Clara to evacuate the ore and dig a deep water port in this coastal city. He threw in the towel ten years ago in the face of the difficulty of making a return on such investments. But since the summer of 2021, the rise in the price of iron on the world markets has made African deposits attractive again, despite the colossal investments that must be made, as well as an ore price which remains volatile ”, adds the fortnightly.

For **on, which is seeking to accelerate the diversification of its economy in order to extricate itself as quickly as possible from its dependence on oil, this is excellent news. Belinga's potential is estimated at 70 to 110 million tonnes of iron ore per year. Several thousand direct and indirect jobs are expected to be generated, as well as tens of billions of CFA francs in budget revenue each year, which will help finance future spending, as well as social spending.

https://www.afrique-sur7.ci/483241-**on-projet-exploitation-mine-belinga