BHP May Win Iron Ore Mining Rights in Gabon

Bloomberg reported Gabon is close to handing over control of its largest iron ore mine to BHP Billiton Ltd. (NYSE:BHP,ASX:BHP).

As quoted in the market news:

Gabonese officials including Mines and Oil Minister Alexandre Barro Chambrier will meet executives of Melbourne- based BHP in Cape Town early next month to complete the deal, Michel Edzang, an official at the Mining Department and adviser to the minister, said in an interview in Libreville. A spokesman for BHP, the world’s biggest mining company, declined to comment.

Click here to read the full Bloomberg report.