Global Mining And Steel Giant Flock To Compete For Mineral Exploration Rights In West Africa

- Six of the world's largest mining and steel company together in a mineral-rich corner of West Africa, a land has been torn by civil strife

. The company plans to invest billions of dollars in total, they are attracted to Guinea, Liberia and Sierra Leone - some of the world's largest iron ore (steel material) deposits are located.

The six groups are: Anglo-Australian mining company Rio Tinto (Rio Tinto) and BHP Billiton (BHP Billiton); British Steel company ArcelorMittal (ArcelorMittal); Russian group Severstal (Severstal); Chinese mining enterprises Aluminum (Chinalco); Brazil's Vale mining (Vale).

Recognizing that the prospects for the region is relatively easy, especially in the strong demand for steel pushing iron (high iron air battle) ore price is. The difficulty is iron ore exports.

The three West African countries hope to boost the economic advantage of transnational corporations for its essential ports, roads and rail funding.

Global mining and steel giant flock to compete for mineral exploration rights in West Africa

The world's largest iron ore company CVRD appears ahead of the competition. Last month, the Brazilian group agreed to invest in a decade from 50 to 8,000,000,000 U.S. dollars, to build mine in Guinea and Liberia, ports and railways. The country's gross domestic product (GDP) less than 10 billion dollars.

Vale to the Beny Steinmetz Group (BSG) to pay 25 billion dollars to buy the latter in Guinea West Mount Du (Simandou) iron ore mining rights, which entered the area. BSG is an Israeli billionaire Benin? Steinmetz (Beny Steinmetz) associated with the small business group. As Rio Tinto deprive the Government of Guinea in 2008 half of its iron ore Du West Mountain mining rights still have different views on the decision, BSG DU in the West Mountain mining right is still in dispute.

In the Liberian capital Monrovia, and the BSG from the Vale of two groups working with the Government on the details of the infrastructure agreement to start negotiations in the hope of iron ore mining in Guinea, Liberia and transported to the sea through a new export facilities.

BSG Mining director Mark? (Marc Struik) told the British "Financial Times", BSG, a joint venture with CVRD in Liberia Didia to create a new iron ore port. He estimated that could cost one billion U.S. dollars.

said the joint venture would invest more than 5 billion U.S. dollars building a number of support infrastructure to help carriers of the West Mount Du Guinea iron ore.

These expenditures will include two rail lines. The first is a reconstruction of the Trans-Guinea passenger lines; followed by the construction of a new railway line will be sent to Liberia iron ore Didia.

BSG, said the joint venture hoped to finalize plans before the end of June. It is currently only in Liberia signed a memorandum of understanding, which may insist on equal access and iron ore exports into Guinea.

said: "We brought a proposal that no one can match. Liberia will not stop the infrastructure agreement."

But recent history shows that such agreements are fragile. Rio Tinto has not recognized, it has lost now for the CVRD-controlled mine in northern West Mount Du mining rights.

Rio Tinto Iron Ore Du is still held in southern West Mountain Mining - much of West Africa's proven iron ore deposits of the location - the mining rights.

This year in March, Rio Tinto was leading enterprise in China's state-owned aluminum (Chinalco) to join, its joint venture development of the West Mount Du. Aluminum and associated infrastructure contractors in China, which is developing the West Mountain Dunant Department - or more - of the deposits may be crucial.

But no one rashly concluded that the final result. Guinea upcoming general election.

Vale agreement signed by the Interim Government of Guinea, and the former military government set up after the leaders were shot. Guinea powerful trade unions have joined some of the views of opposition parties, claiming that during the transition period should not sign any agreement.

by: Frbiz

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