Gabon renegotiating China mining deal

2012-06-07 21:24
Gabon forest

Gabon forest

Multimedia   ·   User Galleries   ·   News in Pictures Send us your pictures  ·  Send us your stories

Libreville - Gabon is renegotiating a deal with China for mining rights to the massive Belinga iron ore deposits and may ditch Beijing for another partner, Prime Minister Raymond Ndong Sima said on Thursday.

"The Belinga portfolio is being re-examined because it appears the conditions initially accepted were not entirely satisfactory. Discussions are taking place. They are aimed at improving the launch of this project and they are open," Sima told reporters.

"If they don't reach a satisfactory conclusion, they could lead the state to really relaunch the portfolio but we're not at that point yet. We're at the point of revisiting the text and documents that have been signed in the past."

Gabon is eager to start mining the Belinga reserves, some of the largest untapped deposits in the world with an estimated billion tons of iron ore.

But the government has struggled to find the estimated €3bn it needs to build the infrastructure required, including a hydroelectric dam to provide power, a railroad line of at least 300km and a deep-water port for exports.

Gabon signed a deal in 2006 with Chinese mining consortium Comibel to mine the deposits.

It renegotiated the contract in 2008 after taking sharp criticism over 25-year tax breaks granted to Comibel and concerns from ecologists and other activists that mining the deposits, which sit at the edge of the Ivindo National Park, would be an environmental disaster.

In 2010, the rights were transferred to the state-owned China National Machinery Import and Export Corporation.

There has been speculation that Anglo-Australian mining giant BHP Billiton wants to take over the project. Gabon President Ali Bongo Ondimba visited Australia in April and toured BHP Billiton mining operations there.

In January, a source close to Bongo's cabinet said Gabon had also consulted Brazil's Vale, France's Eramet and other international miners on the project.

Read more on:    china  |  gabon  |  west africa  |  mining
NEXT ON NEWS24X
SHARE:

Read News24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Inside News24

 
/News

Jobs in Cape Town [change area]

Property [change area]

Travel - Look, Book, Go!

Kalahari.com - shop online today

Save up to 40% on outdoor accessories!

Tents, sleeping, day packs and more. While stocks last. Shop now!

Month End Madness Sale!

Save up to 60% on across a wide range of goods from books to electronics, DVDs and many more. Sale end 31 January 2015. Shop now!

Valentine’s Day gifts – 14 Feb!

Gifts to spoil him and her. While stocks last. Shop now!

30% off fragrances

Get 30% off fragrances for him and her. While stocks last. Shop now!

Up to 30% off All Textbooks

Save up to 30% off an extensive range of prescribed textbooks for all major universities and FET colleges. Shop Now!

OLX Free Classifieds [change area]

Samsung Galaxy s4

Mobile, Cell Phones in South Africa, Western Cape, Cape Town. Date October 24

Best bargain in big bay

Real Estate, Houses - Apartments for Sale in South Africa, Western Cape, Cape Town. Date October 25

VW Golf 6, 1.6 Trendline (Excellent condition)

Vehicles, Cars in South Africa, Western Cape, Cape Town. Date October 25

Horoscopes
Aquarius
Aquarius

There is a tendency to be too fixed on a set way of doing things today. You may get challenged and the best approach is to keep an...read more

There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Settings

Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.








Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.