Gabon Looking For Partner For Belinga Iron-Ore Venture

Gabon Looking For Partner For Belinga Iron-Ore Venture

From Bloomberg

Gabon is still looking for a partner to help the West African nation develop the Belinga iron-ore deposit, after ending an agreement with a Chinese company in December, according to Minister of Mines Regis Immongault.

“The new ambition of President Ali Bongo Ondimba is to develop the mining sector,” Immongault told reporters today in Libreville, the capital. The National Agency for Major Works is starting to select a port to export Belinga’s ore, he said.

Gabon said in December it would reimburse about $36 million to China Machinery Engineering Corp. after canceling an agreement with the Beijing-based company to develop Belinga over a lack of progress. China Machinery had estimated the project could produce 30 million metric tons of the steelmaking raw material each year.

Edited by John Viljoen/Readmore at Bloomberg