Guinea looks to secure further mining deal with Bellzone -FT

LONDON May 10 (Reuters) - Guinea is hoping iron ore explorer U.K.-listed Bellzone will announce a joint venture in the country within a month, the country's Mining Minister told the Financial Times in an interview published on Monday.

Mahmoud Thiam said a possible joint venture involving Bellzone (BZM.L), listed on AIM, would help position Guinea as a leading iron ore producer, as the country seeks to encourage major foreign investment following a political crisis.

"If the Bellzone mine comes online it will turn us into the largest iron ore exporter, if both mines are going full throttle, within 10 years - from zero," Thiam told the FT.

Guinea has rich deposits of both iron ore and bauxite, the raw materials to make steel and aluminium respectively.

Bellzone said last month that a non-binding memorandum of understanding has been agreed with a Chinese firm for a feasibility study on needed infrastructure, including a 286-km railway line and port.

Last month Brazilian mining giant Vale (VALE5.SA) bought a majority stake in a division of mining company BSG Resources in Guinea, spending $2.5 billion to tap what it called "among the best deposits" of iron ore in the world. [nN30181808] (Reporting by Caroline Copley; Editing by Ed Lane)