46264
Iran-Guinea Bauxite Mining Project to Be Reactivated
Economy, Business And Markets

Iran-Guinea Bauxite Mining Project to Be Reactivated

Guinea’s Societé des Bauxites de Dabola-Tougue expects to begin the construction of a mine by the end of this year, which would allow it to exploit its large, untapped reserves of bauxite, the company’s chief executive said on Friday.
Iran holds a 51% stake in SBDT, which owns permits over 5,684 square kilometers. Guinea holds the remaining 49%.
“We are currently finalizing the feasibility studies. We plan to begin work before the end of this year,” Fode Diaby told Reuters.
The concession includes 13 bauxite plateaus at Dabola and 12 at Tougue, both in central Guinea, which have a combined reserve of over 600 million tons, according to the company.
The project has remained largely dormant since the original agreement between Guinea and Iran was signed in 1992. However, the two nations renewed the 25-year agreement last year.
Iranian Mines & Mining Industries Development & Renovation, a major state-owned holding company active in the mining sector, is now lending financial backing to the project, which is expected to cost more than $550 million.
“For the evacuation of the ore, we will construct a 325-km transport route. Eventually, a 33-hectare space at the Autonomous Port of Conakry will be developed,” Diaby said.
Guinea is home to the world’s largest reserves of bauxite, yet it ranks fourth in exports. The government is aiming to boost production by 30% before the end of 2016.

Short URL : http://goo.gl/zF4sZj
  1. http://goo.gl/N0Xpw6
  • http://goo.gl/6uBjxt
  • http://goo.gl/heVXf5
  • http://goo.gl/C2KR6p
  • http://goo.gl/XGZsCD

You can also read ...

Valiollah Seif
Governor of the Central Bank of Iran said on Wednesday anti-...
Nat’l Virtual Currency in the Offing
Months after the idea was first publicized, it seems that Iran...
5th Indian Wheat Cargo Arrives for Afghanistan in Chabahar
India’s fifth consignment of wheat to be sent to Afghanistan...
Presale Crosses  96,000 Gold Coins
The presale of Bahar Azadi gold coins priced at 14 million...
Spanish Foreign Minister Alfonso Dastis met with President Hassan Rouhani on Feb, 21.
Foreign ministers of the Netherlands and Spain are in Tehran...
Lexus’ New Crossover to Break Cover  in March
Lexus will pull the covers off of the production version of...
The government has required car importers to pay the higher tariffs announced in January.
The government has finally allowed the clearance of imported...
Bank Loans Top $100b in 10 Months
Banks and credit institutions doled out more than 4.62...

Trending

Googleplus