Glencore courts Guinea's iron ore treasures- document

martes 5 de agosto de 2014 11:48 GYT

* Says can develop Guinea projects quicker than other majors

* Wants to cooperate with other majors in Guinea

* Sources said Glencore expressed interest in Simandou

By Silvia Antonioli and Alexandra Reza

LONDON, Aug 5 (Reuters) - Miner and commodity trader Glencore has expressed interest in iron deposits in Guinea, a presentation obtained by Reuters shows, although the company said it had not pitched for a stake in Simandou, the country's largest deposit.

Glencore is the latest mining major looking to invest in iron ore assets in Guinea. Most interest is focused on Simandou, one of the world's biggest deposits.

Any potential investors in Simandou are treading carefully, however.

Israeli-owned BSG Resources, which was stripped of its license to develop part of Simandou following a Guinean corruption investigation, is seeking arbitration and has threatened to sue companies that invest in its former license area.

Three sources close to the government said London-listed Glencore had indicated its interest in investing in Simandou, in a meeting with government officials in Conakry in June.   Continuación...