POSCO eying Mbalam iron ore project in Cameroon
Sunday, 30 Jan 2011It is reported tat POSCO has agreed with Cameroon to jointly develop iron ore in Mbalam in a project that would be able to produce 35 million tonnes from 2014.
POSCO said tat In Cameroon, PPOSCO discussed with government officials its plan to develop a Mbalam iron ore project that straddles Cameroon and Congo.
POSCO also said it also negotiated with officials of the Democratic Republic of Congo its plan to develop copper in return for building infrastructure, including power plants, in the country.
A POSCO spokesman said that POSCO hasn't yet signed initial agreements with Cameroon and the Democratic Republic of Congo on the projects in those countries, but got favorable responses from them during Mr Chung's visits this time.
The development comes as a result of POSCO CEO Mr Chung Joon-yang's trip to four African countries last week, aimed at securing resources from the continent.
(Sourced from DJ)
posco mbalam
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