Without a functioning cross-border security plan (and experience in this area would be nice as well), these purchases by Chinese lead concerns do not appear to be pricing in the attendant security risks associated with dealing in Africa. Is Gabon an exception or are we going to see a violent mean reversion?
The remote Belinga mine, nestled deep in a tropical forest, drew interest from top global mining companies, including Brazil's Vale SA. In 2006, Gabon awarded the project to a consortium led by China National Machinery & Equipment Import & Export Corp., known as CMEC, which was allowed to mine the iron without paying taxes related to production there for 25 years.
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