Tuesday, April 13, 2010

BHP/ArcelorMittal Alliance????

Greetings people.

Three months have passed and still we await the emergence of the BHP, ArcelorMittal alliance

Remember it was mid January when steel giant ArcelorMittal and miner BHP Billiton began discussing combining their iron ore interests in Liberia and Guinea, creating a platform for a West African iron ore business.

After a flurry of excitement - nothing.

Yet it is potentially one of the biggest deals ever for Liberia. At stake is ArcelorMittal's 70 per cent interest in five Liberian leases and rights to upgrade Liberia's Yekepa-Buchanan railway and Panamax port. BHP retains 43.5 per cent interest in Guinea's Euronimba, which owns 95 per cent of the Nimba project, including exploration leases at Dieke and Nimba North, as well as the miner's four Liberian leases.

Has anyone out there heard anything?

Anthropogenicagent

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