- Write by:
-
Wednesday, May 11, 2022 - 14:19:14
-
432 Visit
-
Print
Mining News Pro - China’s Sinosteel Corp. has signed a $690 million contract to exploit an iron ore mine in southern Cameroon amid a push to cut Chinese reliance on Australian and Brazilian ore.
Sinosteel will produce 10 million tons of ore annually containing 33% iron from the Lobe mine, Zheng Zhengao, who heads the Cameroonian subsidiary told reporters in the capital, Yaounde. It will then enrich the output to produce 4 million tons of high-grade ore with more than 60% iron content, he said.
The Chinese company signed a 50-year contract with the central African government to exploit the Lobe deposit, which contains an estimated 632.8 million tons of iron ore.
The signing comes nearly a decade after Sinosteel first expressed interest in the mine.
Short Link:
https://www.miningnews.ir/En/News/621279
China’s CMOC Group Ltd. is being accused by a top US official of using “predatory” tactics to depress prices of a key ...
Australian-based Atlantic Lithium Ltd., which is developing Ghana’s first lithium mine, has taken a step toward raising ...
Democratic Republic of Congo’s government has lifted a suspension order on a Congolese copper and cobalt operation ...
Oxford Economics Australia has released data showing mine maintenance spending may be hitting its peak. But what does it ...
South African diversified miner Sibanye Stillwater is discussing with lenders to temporarily lift limits on borrowings, ...
Iron ore futures fell to their lowest in more than two weeks, pressured by an inventory accumulation at Chinese ports ...
Anglo American’s key South African shareholders are open to a takeover offer from BHP, with some advocating for an ...
Japan’s top steelmaker, Nippon Steel, is sticking to its plan to close a deal by year-end to buy US Steel, which it ...
Anglo American’s key South African shareholders are open to a takeover offer from BHP, with some advocating for an ...
No comments have been posted yet ...