Cape Lambert Resources (CFE), which recently published a scoping study for 15 million tonnes a year from its Marampa iron ore project in Sierra Leone, has dubbed West Africa "the next Pilbara". Well, they would say that, wouldn't they?
But there are plenty who share their view. Sundance Resources (SDL), whose project straddles the Cameroon-Republic of Congo border and which is in the process of being swallowed by the aforementioned Chinese, noted in a presentation a few months ago that West Africa was "the world's next greatest iron ore region".
On Thursday, Equatorial Resources (EQX) MD John Welborn sent an update to shareholders on the company's progress in Republic of Congo. He says that central and western Africa have, in his view, the potential to supply more than 30 per cent of the world's seaborne iron ore trade.
He says that, with costs rising for many producers, steelmakers will be looking for iron ore miners that can compete on price.
Out among the quarterlies at the end of the week was one from Volta Mining (VTM), which, with 3922sq km of tenements in Gabon, claims to have one of the largest iron ore ground positions in central West Africa.
CFE Price at posting:
27.5¢ Sentiment: Buy Disclosure: Held
