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Liberia: Tata Steel Signs Nimba Venture in Ivory Coast
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The Inquirer (Monrovia)
24 December 2007
Posted to the web 26 December 2007
Tata Steel Limited of India and SODEMI, the Ivorian state-owned company for mineral development, have entered into a Joint Venture agreement for the development of the Mount Nimba iron ore deposits in Cote d'Ivoire .
Tata Steel, the world's sixth largest steel producer, is one of six companies bidding for the exploration of Liberia 's Western Cluster iron ore deposits - Bomi Hills, Mano River and Bea Mountains .
The Mount Nimba deposit, spread over three countries - Liberia, Guinea and Cote d'Ivoire - is one of the biggest in West Africa.
According to the agreement signed last week in Abidjan, the project will be implemented by a joint venture company in which Tata Steel will have a major shareholding.
The initial phase will involve exploration and detailed feasibility assessments followed by construction of the mine and beneficiation facilities. Iron ore from the project will be supplied to Tata Steel Group facilities located in the United Kingdom, Netherlands and elsewhere.
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Established in 1907, Tata Steel has a combined aggregate crude steel production of 28.1 million tons with about 82,700 employees across four continents, and has set standards in corporate governance and corporate social responsibility.
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