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"Cameroon Alumina has presented its exploration findings to us and is seeking a permit for exploitation. We will take time to examine it carefully and make comment on its later," Secretary Of State Callistus Fur Gentry told reporters Wednesday.
Cameroon Alumina is a consortium of three companies: Dubai Aluminium Co. Ltd., or DubAl, with 45%, India's Hindalco Industries Ltd. (500440.BY), also with 45%, and U.S.-based Hydromine Inc., with 10%.
The company said Wednesday it has discovered 700 million metric tons of bauxite deposits in Mini Martap and Ngaoundal in the east of the county, and has filed a request seeking an exploitation license.
The project will cost some $4 billion and generate about 8,000 jobs. Commercial production is expected by 2014.
-By Emmanuel Tumanjong, contributing to Dow Jones Newswires; +237-9655-6261, +237-7773-1930; tnuel@yahoo.com
(END) Dow Jones Newswires
10-15-09 0522ET
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