One wonder what's happening over the last month in the Iron ore region of West Africa:
1. Deal between Rio and Chinese over Simandou project (Guinee)
2. Chinese and Cap Lambert in bidding war over Iron Ore play DMC (Republic of Congo) http://www.growthcompany.co.uk/news/1248093/cape-lambert-in-15m-bidding-war.thtml
See recent DMC's map of the next major global iron ore province (Central West Africa) click here for DMC Mining http://www.dmcmining.com.au/index.php/next-major-iron-ore-province
3. Brazil's Vale (CVRD) wants to redo business with Gabon Belinga project.
It's all looking good for SDL.
Gabon: The Brazilians want to redo business for iron ore project http://gaboneco.com/show_article.php?IDActu=17903 (French translation)
The CEO of mining group Companhia Vale Rio Doce of Brazil (CVRD), Eduardo Ledsham, was received in audience on April 9 by Ali Bongo in Libreville to present its ambitions in the mining sector in Gabon. Wearing the post in 2006 by the Chinese on the draft Belinga, Brazilian CVRD may return to face the burden on the lapels of their Chinese competitors with the Gabonese government.
After four years of suspension of its operations in Gabon, the Brazilian mining group Companhia Vale Rio Doce (CVRD) would be interested to revive its activities.
The Group Managing Director, Eduardo Ledsham, was received to that effect on April 9 by the Head of State in Libreville to explore development projects relating to iron, phosphate and oil.
"Mr. Ledsham said he had come explore investment opportunities in Gabon, the Gabonese president and it was "pleased that the company Vale installed in Gabon since 2004, wants to contribute to the progress of Gabon, said the spokesman the Presidency of the Republic, Guy Bertrand Mapangou.
The Brazilian group was created in 2005 as the Mining Company of three rivers (CMTR) which operated the manganese Okondja Upper Ogooue. While she was expecting an annual production of 4 million tonnes of manganese in 2012, CVRD had suddenly closed its plant in Gabon against plummeting prices of manganese, especially after the granting of market exploitation of iron Belinga the Chinese.
The return also coincides with the Brazilians encountered Belinga the project by the Chinese, while in Libreville, the doubts are increasing the ability of Chinese to honor their commitments and the authorities in charge of the case are already demanding a renegotiation contract.
And if the Chinese offer was largely overlooked in 2006 that the Brazilian CVRD, the world industry, which proposed a power plant, it is not impossible to involve other market players, including Brazilian partners "had the necessary expertise for such a project," said one familiar with the matter.
Published on 12-04-2010 Source: Gaboneco Author: Gaboneco
Cheers - BS
SDL Price at posting:
15.5¢ Sentiment: Hold Disclosure: Held
