[miningmx.com] – CHINA’S Shandong Xinfa Aluminium & Electricity Group is considering investing $14bn in Boffa-Santou-Houda, a bauxite project in Guinea that was abandoned by BHP Billiton, said Bloomberg News.
The newswire said the Chinese company beat three other bidders in a government tender to invest in the bauxite concession which is 150km north of Conakry, the capital of Guinea, over a 15-year period.
The planned investment is more than double Guinea’s $6.2bn economy and would add to the $20bn Simandou iron ore project in which Rio Tinto is involved, said Bloomberg News.
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