China Fund, Bellzone Eye Rio Tinto's Simandou Project -Report
May 06 2012 - 12:21PM
Dow Jones News
China International Fund and London-listed mining company
Bellzone Mining PLC (BZM.LN) are planning to take over Rio Tinto
PLC's (RIO, RIO.LN) share of the giant Simandou iron ore project in
Guinea, the Sunday Times reports, citing a presentation from last
year.
CIF, a company set up by a syndicate of Hong Kong traders and
Angolan state-owned oil firm Sonangol, was joined by Bellzone in
making a pitch to the Guinea government to develop the project even
though Rio had already reached a deal, the Sunday Times reports,
citing the presentation dated Aug. 2011.
"What's wrong with that?" said Bellzone Chief Executive Nik Zuks
last week when asked if he was trying to take over Simandou despite
Rio's contract, the Sunday Times reports.
Rio Tinto declined to comment when contacted by Dow Jones
Newswires.
-By London Bureau, Dow Jones Newswires, +44 207842 9471,
alexis.flynn@dowjones.com
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