Brazilian-Canadian consortium in $ 800-million Yemen investment

SANA'A, Feb. 20
(Saba) - A Canadian-Brazilian consortium has launched the biggest mining project in
Yemen,
taking advantage of the ceasefire that put an end to the years-long war in the far
north which was basically deemed a roadblock to the launch, the September net has
reported.
Head of the Geological Survey and Mineral Resources Board Ismail Al-Janad said the
consortium comprised of the Brazilian Vale Inco Firm and the Cantex Mine
Development Corp
and Valley Mining Inc.
The $ 800 million project was launched in the northern provinces of Amran and Hajjah.
The consortium has started exploring copper, gold and nickel in Sewar district in
Amran, Al-Janad said.
The project represents an incentive for attracting and encouraging foreign
companies to invest in the country, mainly in mining, he said, pointing out that
there are about
14 Yemeni, Arab and international companies with licenses exploring minerals in Yemen.
The Brazilian Vale Inco is the second-largest mining company in the world, and the
Cantex Mine Development Corp has been investing in Yemen since 1996.
FR