n°295 - 09/04/2013Home stretch before carbonated phosphate deal...

n°295 - 09/04/2013

Home stretch before carbonated phosphate deal awarded
The final round in the tender for the concession for the carbonated phosphates project has begun. Togo's transportation minister, Damipi Noupokou, who is also serving as acting mines minister, summoned the three finalists in the competition (Coromandel Getax Pvt Ltd., Elenilto Miniing Minerals and Balarama Resources) to working sessions to discuss their respective bids. According to our sources, President Faure Gnasingbe advised his minister to examine and re-evaluate the different offers once again. Mike Raltson, managing director of Balarama Resources, and experts were due to arrive in Lome on April 8 for a meeting with Noupokou. They had already invited him to Australia in 2010. Due to the steep investment the project will require (around $3 billion), Lome is expected to divide the contract into two or three lots. Togo’s carbonated phosphates reserves are estimated at 2 billion tons.