Wednesday, Nov 19, 2008
YAOUNDE, Cameroon (Dow Jones)--U.S. mining firm Hydromine Inc., together with its strategic partners - Hindalco Industries Ltd. (500440.BY) of India and Dubai Aluminium Co. - have formed a new mineral firm called Cameroon Alumina Ltd., in which the Cameroon government also owns stakes, state-run Cameroon Radio Television, or CRTV reported Wednesday.
"The creation of Cameroon Alumina Ltd. opens the way for the building of a giant aluminum factory at Minbim-Martap," CRTV reported, adding that "After ongoing feasibility studies are completed within 18 months, the first kilogram of aluminum will be produced from the refinery four years."
Speaking to the radio, Hydromine CEO Peter Briger said his firm has between 50 and 70 years to run the project in northwest Cameroon.
Stakes parity for Cameroon Alumina Ltd. were not made public, and Dow Jones could not immediately get comments from government on their stakes.
-By Emmanuel Tumanjong, contributing to Dow Jones Newswires; +237 7773 1930; tnuel@yahoo.com
(END) Dow Jones Newswires
19-11-08 1358GMT
