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Bellzone to Invest $250 Million in Guinean Iron-Ore Project

Dec. 3 (Bloomberg) -- Bellzone Mining Plc, an iron-ore company operating in West Africa, will spend at least $250 million developing the Forecariah mine in Guinea, said Frederic Materne, the project manager.

“The funds will be invested in iron ore, the construction of roads and the port,” Materne said in remarks broadcast on Radio Television Guineenne, the state-owned broadcaster based in Conakry, the capital. “The investment may increase to $350 million” if production is boosted, he said.

Bellzone Chief Executive Officer Nik Zuks said in August iron-ore production is expected to start at Forecariah in March.

To contact the reporter on this story: Ougna Camara in Conakry via Nairobi at pmrichardson@bloomberg.net.

To contact the editor responsible for this story: Antony Sguazzin at asguazzin@bloomberg.net.

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