Reuters reported that the government of Guinea said that it will complete a review of the Vale/BSGR JV rights over the northern half of the giant Simandou project by the Q1 of 2013, denying there was uncertainty over the project.
Brazil's Vale, the world's top iron ore producer, blamed a Guinean government U turn on rail and port links and shifting, unclear regulation for its decision to shelve the giant Simandou iron ore project.
Mr Fohamed Lamine Fofana minister of Mines said that "There is no uncertainty over the success of the Simandou project."
Mr Fofana said that the review of BSGR's rights over Simandou blocs 1 and 2 will be completed on or before the end of the Q1 next year.
Source:
http://www.steelguru.com/raw_material_news/Guinea_says_it_will_complete_BSGR_review_by_Q1_2013/294486.html
