Elmat,
Yes, I heard that from the CEO of NAV.V as well.
NAV.V is a bauxite property in Guinea, surrounded by ops by Alcan, RTP, RIO, BHP.
So how does a junior get such a juicy piece of real estate? Seems these African nations have figured out that these majors that sit on leases, not drilling, and locking out juniors, don't put food on the table of their people, don't create jobs, and actually increase instability, putting the livelihood of these rulers at risk.
Bauxite, used to make aluminum, in so far as Aluminum is seen as a strategic metal (only occurs in a few other places outside Guinea), is on the watch list of these majors and of developed nations.
Guinea seems to have 25% of global resource base of 34bn tonnes.
en.wikipedia.org
Its interesting that Guinea still manufactures no aluminum, shipping bauxite offshore to be processed, but a new manufacturing facility, using locally generated hydro, is in the works.
Cheers, D |
