EIB CONGO POINTE NOIRE MAGNESIUM SMELTER
January 1st, 2006
BY KEITH NUTHALL
THE EUROPEAN Investment Bank (EIB) is planning to lend Canada's MagIndustries Corp Euro 13 million to help develop a potash plant, a magnesium smelter and rehabilitate hydro-electric power station units serving carnallite (magnesium ore) and salt deposits, at Kouilou, Pointe Noire, Congo (Brazzaville). The EIB said the plants would help it exploit the local Mengo carnallite and salt deposits by solution mining techniques. Assuming the bank board formally approves the Nova Scotia-based company's loan, it will fund feasibility studies and ...
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