Cote D'Ivoire miner Lagune Exploitation Afrique is in discussions with a Sumitomo Corp. unit over a potential US$375 million bauxite venture, Bloomberg News reported May 29, citing Lagune CEO Moumouni Bictogo.
Lagune is developing the 34.5 million-tonne Benene bauxite deposit in the country that aims to produce 750,000 tonnes of bauxite and 350,000 tonnes of calcinated metal per year. It also plans to construct two plants by 2025.
Bictogo said the company is offering a 25% interest but declined to comment further on the talks with Sumitomo Corp. Africa Pty. Ltd. A Sumitomo executive also declined to comment on the matter, according to the report.
