You are here: Home Business Investment $1.6b Deal Secure For Western Cluster

$1.6b Deal Secure For Western Cluster

E-mail Print PDF
TRANSLATE TRANSLATE
$1.6b Deal Secure For Western Cluster

An Israeli Company, Elenilto Mineral Mining Ltd, has been awarded the rights to develop the $1.6 billion Western Cluster iron ore project, President, Ellen Johnson-Sirleaf, said, reports say.

“We have finally come to closure on the concession bid for the Western Cluster iron ore deposits,” Mrs. Sirleaf was quoted in a statement handed to reporters recently. Cabinet will now start negotiations about developing the project with Elenilto, a unit of Engelinvest Group, she said.

The Western Cluster project consists of three deposits and two idled mines. The mines were closed in 1976 and 1985 and their equipment sold as scrap during Liberia's two civil wars, the last of which ended in 2003.

The Western Cluster was first awarded to a South African mining Company, Delta, but a rebid was ordered after what government said was a due diligent on the company's capacity to perform on time. In 2009, four companies submitted bids to restart development of the project.

Elenilto Mineral Mining Ltd is a subsidiary of ENGELINVEST GROUP, a global real estate development corporation with Elenilto and other subsidiaries dealing in mining and other operations.

ELENILTO MINERALS & MINING is operating large scale exploration & mining operations (Gold, Copper, Titanium, Manganese, Iron Ore, Chrome and others) in Europe and Africa. Efforts to contact Lands, Mines and Energy Minister Dr. Eugene Shannon for comment proved futile Saturday, as he told this writer that he was in a meeting.


 

Add comment

Security code
Refresh

ADVERTISEMENT

THOUGHTS, POLITICS & PEOPLE

Thoughts, Politics & People

“The Legislature Is Independent”

Read More

THE ORIGINAL LETTER TO GOD

The Orignal Letter To God

Lord, that’s what happens when taken for granted

Read More

BUSINESS & FINANCE

Business & Finance

Business Development Strategies

Read More

Opinions & Features

Original Letter To God: Lord, that’s what happens when you take things for granted
Exclusive Interview: Pres. Johnson-Sirleaf Faces New Dawn
Feature Article: Economic Theory, Public Policy & Allocation of Scarce Resources: Case for MTC
Feature Article: Illicit Financial Flows from Africa: A Wake up call for Major Stakeholders
Feature Article: An Elder’s Commentary on Joint Council of Chiefs and Elders Meeting in Zwedru

Who's Online

We have 258 guests online