September 22, 2010

China to Invest over $1 billion in Ghana Mining

Bosai Minerals Group, a privately held mining conglomerate out of Chongqing will jointly invest $1.2 billion (US dollars) to build a power plant and upgrade bauxite mines at Awaso bought last year from Rio-Tinto-Alcan. The investment will come from Bosai, the China-Africa Fund, and the government of Ghana. Bosai will control 80% and aims to produce 2 million tons of bauxite per year by 2014...

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