Sunday, 03 Jul 2011
Reuters quoted a company source with direct knowledge of the matter said Nippon Steel Corp, the world No 4 steelmaker is not in talks with Australia Sundance Resources on its USD 4.6 billion iron ore project in West Africa.
The source said "We are not in the talks. Such projects in Africa usually target Chinese and European firms due to the proximity of the markets, not Japanese or South Koreans."
Sundance said this week that it had shortlisted potential partners for the project, which is developing deposits in Cameroon and the Republic of Congo and may involve selling up to a 50% stake.
It did not name the shortlisted companies. (sourced from Reuters)
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