January 18, 2011 / 1:50 PM / 8 years ago

China firm wins Tanzania coal, iron ore mine bid

DAR ES SALAAM, Jan 18 (Reuters) - China’s Sichuan Hongda Co. Ltd. will invest $3 billion in a coal-fired power plant and two iron ore mines in Tanzania after seeing off competition from Rio Tinto (RIO.L) and BHP Billiton BLT.L, the state-run National Development Corporation (NDC) said on Tuesday.

“The Chinese firm was picked from a long list of bidders as the preferred investor after winning an international bidding process. We are now negotiating final details before a contract can be signed,” NDC’s board chairman Chrisant Mzindakaya told Reuters. (Reporting by Fumbuka Ng’wanakilala; Editing by Richard Lough)

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