Bellzone says Guinea mine will start production in 2015

LONDON (Reuters) - Guinea-focused miner Bellzone said on Tuesday it expects its Kalia iron ore project to produce 7 million tonnes per year with production to start in 2015. In its feasibility study Bellzone said the cost of the first phase of the project, which has resources of 124.2 million tonnes, would be $865 million. A second phase would then use existing cash flows to extend the project by mining a lower iron ore grade. Bellzone has struggled to successfully ramp up its other Guinea project, Forecariah, saying last week that it would miss already lowered shipping targets.