It’s time to brush up on our French now! The latest Joint Venture Agreement signed by Tata Steel is with SODEMI, a state owned Company of the Republic of Cote d’Ivoire, a country where French is the official language. This agreement will allow Tata Steel to jointly explore the iron deposits at Mount Nimba. The agreement was signed on December 11, 2007 in the presence of HE, Mr Laurent Gbagdo, President of the Republic of Cote d’Ivoire.

SODEMI, which holds most of the mineral data of Cote d'Ivoire (Ivory Coast) and its most important mining assets, chose Tata Steel as its partner as it believes that the Company has the technical and financial capability as well as the experience to handle the mega project. The Republic of Cote d’Ivoire is among Africa’s most prosperous countries, with its economy driven principally by the exports of coffee and cocoa beans.

While reiterating Tata Steel's commitment to unlock value for the people of Cote d’Ivoire from its mineral wealth, Mr B Muthuraman told a gathering of its top leadership, "It is the Tata's philosophy to participate and be a part of a country's development process and Tata Steel, through its well known social initiatives, will make a positive impact on improving the quality of life of the people of Cote d’Ivoire”.

Expressing the hope that this mega project signals for Cote d’Ivoire, Mr Jean Likane YAGUNI, Managing Director of SODEMI said, "Together with Tata Steel we are writing a new chapter in the history of Cote d’Ivoire today."

In the initial phase of the project, the iron ore deposits of the Mount Nimba region in Cote d’Ivoire will be explored and a detailed feasibility study conducted. The Mount Nimba deposit is spread over three countries, Liberia, Guinea and Cote d’Ivoire and is the biggest in West Africa. In the next phase, the mine and beneficiation facilities will be conducted.