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BHP Closing In On A$3.5 Billion Gabon Iron Ore Deal - Report

MELBOURNE -(Dow Jones)- BHP Billiton Ltd. (BHP) is close to striking a A$3.5 billion deal with the government of Gabon over the Belinga iron ore project, which is said to contain about 4 billion metric tons of ore, the Australian newspaper reported Wednesday without citing a source for the information. A deal would represent BHP's most significant foray into Africa's emerging iron ore sector, which has already attracted rivals Rio Tinto PLC (RIO) and Vale SA (VALE) as well as a host of junior exploration companies, the newspaper said in an article on its website. It reported that BHP has so far declined to comment. News agency Reuters in an article Friday cited Sosthene Nguema Nguema, a member of Gabonese government delegation in charge of overseeing the Belinga project, as saying a deal with BHP had been reached after the concession had been removed from China National Machinery and Equipment Import and Export Corp., as the Chinese company didn't have sufficient expertise to mine the resource. Newspaper website: http://www.theaustralian.com.au/business/mergers-acquisitions/giant-poised-to-take-35bn-african-plunge/story-fn91vdzj-1226265157070 -By Melbourne bureau; +61 3 9292 2094; djnews.sydney@dowjones.com

Stock News for Companhia Vale (RIO)
DateTimeHeadline
04/17/201513:59:45LONDON MARKETS: FTSE 100 Driven Lower On China-trading Concerns
04/17/201513:59:19EUROPE MARKETS: European Stocks Mauled By China, Greek Worries;...
04/17/201509:56:59LONDON MARKETS: FTSE 100 Driven Lower On China-trading Concerns
04/17/201509:22:42LONDON MARKETS: FTSE 100 Driven Lower On China-trading Concerns
04/16/201511:05:023 Reasons the Internet of Things Is Set to Boost This Giant Miner's...
04/16/201508:00:41Harworth Group Buys Site of Former Lynemouth Smelter From Rio...
04/16/201507:44:04Fortescue Says Can Withstand Slump in Iron Ore Prices--2nd Update
04/16/201504:25:34Fortescue Says Can Withstand Slump in Iron Ore Prices--Update
04/15/201515:57:48Copper Producers, Analysts Differ on When Prices Will Rise
04/15/201511:12:30Australia Shares End Lower as Data Dampen Sentiment
04/15/201510:11:45Goldman Sachs Downgrades Rio Tinto plc to Sell (RTP)
04/15/201505:03:09LONDON MARKETS: FTSE 100 Moves Higher As Miners Gain; U.K. Inflation...
04/14/201514:09:01LONDON MARKETS: FTSE 100 Wavers As Downgrades Hit BP, Primark...
04/14/201510:08:35Fortescue Overhauls Worker Rosters to Cut Costs -- Update
04/14/201507:58:25S&P warns on global miners including BHP, Rio, Vale
04/14/201506:40:16LONDON MARKETS: FTSE 100 Edges Higher Ahead Of Inflation Data
04/14/201503:09:50Glencore's Chase For Rio Tinto: Coveting The Best House In A...
04/13/201518:09:28ADR Shares End Lower; Alcatel-Lucent, Nokia Shares Rise
04/13/201512:42:35LONDON MARKETS: FTSE 100 Eases From Record; BHP Hurt After Downgrade
04/13/201510:22:26BHP slides after Citi downgrade

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