Saturday, January 17, 2009

Senegal Natural Resources Attracting Attention

Although Senegal is facing economic difficulties international interest is, if anything, increasing. France has recently agreed to lend the Government $US165m to pay down its debts to local entities.
This is on top of the considerable input from China that DeepLode has identified in previous posts. Senegal has undeveloped resources including the offshore oil exploration tenement now under the leasehold of First Australian Resources.
Foreign interests want to keep the Senegal economy alive and kicking to protect their existing interests and to get a foot in on new developments...and they will come!

Analysts report that economic growth should recover to something like 5.5 percent a year between 2009 and 2013.
Last year's $100-million injection into phosphates production by Indian interests has helped enormously.

Although a minnow on any scale FAR suddenly has a trump card. Follow with interest!

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