The Cortellazzi Consortium

March 10, 2008

Port – Railway – Road – Landing Strip – Fiber Optic Cable

Filed under: Uncategorized — 18montecristo67 @ 12:30 pm

On 28 February 2008, UMining issued a press release in which it states it is seeking ratification of a final binding agreement scheduled to be signed by mid-March 2008.

According to the same press release:

“The three sources of potential revenue from the BOOT Agreement are:(1) Mining Concession; (2) Railway concession; and (3) Port infrastructure and management concession.Based on the terms of the Agreement with the Republic of Guinea, U Mining will earn a portion of the potential revenue in exchange for its expertise and assistance in securing international funding for the Project.”

However, the day before on 27 February 2008, Rio Tinto delivered a presentation to the World Bank detailing a port, railway, road,landing strip and fiber optic cable infrastructure project in the Republic of Guinea.

The Rio Tinto presentation can be viewed here (french only, pdf format).

A mineral port is identified at pages 5, 6, 7 & 8 of the presentation as Port Yeliotono. Another component of the project is a landing strip at Beyla which is identified at page 6 of the presentation.

The presentation identifies 3 railway projects, Conakry – Kankan (north – 670 KM), Pic de Fon – Port Yeliotono (south – 710 KM) and a 350 KM extension of the northern line to Bamako.

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Recent pictures of existing railways in Guinea

At page 5, road work (430 KM) along the proposed southern railway line is identified and scheduled for the period of Feb 2008 to June 2008 at a cost of 2.5 million dollars which is to be financially supported by Rio Tinto and Simfer S.A.

At page 6 of the presentation, proposed improvements (estimated at 2 million dollars and fully supported by Rio Tinto) to an existing landing strip at Beyla are identified owing to the remoteness of the Simandou mining concession.

A proposed study for 710 KM fiber optic cable which would run along the southern railroad is identified at page 8 of the presentation.

Few should be surprised the presentation does not mention or refer to UMining at any time.

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