Simandou to start at 2 mln T in 2012-Vale
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- Published on Wednesday, 23 February 2011 18:28
- Written by Saliou Samb
Simandou to start at 2 mln T in 2012-Vale.
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Vale's Simandou to start 2012 with 2 mln T capacity
* Production seen at 50 mln tonnes by 2020 (Vale corrects statement to show iron output will begin 2012 with 2 million tonnes per year capacity)
CONAKRY, Feb 22 (Reuters) - Iron ore production from Vale's (VALE5.SA: Quote)(VALE.N: Quote) Zogota mine at Simandou, in Guinea, will begin production in 2012 at 2 million tonnes per year, the company said on Tuesday.
Vale acquired the project last year with the purchase of a majority stake a division of mining company BSG Resources.
The news comes as Guinea's President Alpha Conde seeks to double the state's share in mining projects to about a third through changes to the mining code.
No details have emerged on any changes to the deal over the Simandou south concession, which Vale has called one of the best deposits in the world and said it will invest $5 billion in.
The rights to Simandou were once entirely controlled by Rio Tinto (RIO.L: Quote)(RIO.AX: Quote) but, after a long dispute with the Guinean state, Rio was stripped of Blocks 1 and 2 in the southern part of the concession.
These are now in the hands of Vale and BSG and the firms have secured an agreement to export their iron ore through Liberia.
But, as part of the agreement with Guinea, Vale is funding the rehabilitation of the 660 km (410 mile) railway between Conakry, the capital, and Kankan, in the east, near Simandou. (Reporting by Saliou Samb and Brian Ellsworth; writing by David Lewis; editing by Keiron Henderson)
By Saliou Samb
EXCLUSIF
L’université Thierno Macka Barry honore ses diplômés
L’université Thierno Macka Barry est située dans le quartier Dabompa, Commune de Matoto.
Elle a été fondée en 2006 avec un effectif de cinquante étudiants repartit dans les facultés des lettres et sciences humaines, Droit et sciences politiques et les sciences économiques et gestion.
Les trois premières promotions viennent de bénéficier de leurs diplômes.
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English Corner
Ethnic clashes erupt in Guinea capital
(Reuters) - Rival gangs fought with knives and truncheons in Guinea's crumbling seaside capital on Friday as ethnic tension worsened before an election in the unstable West African nation, witnesses said.
Security forces in full anti-riot gear piled into the backs of pick-up trucks and deployed across Conakry to separate the fighters as President Alpha Conde's government appealed for calm.
"It has become very bad. People set fire to a car right in front of me. I've seen four people injured in the fighting," said Souleymane Bah, a resident of Bambeto, one of several areas where clashes were reported.
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