- Write by:
-
Tuesday, May 10, 2022 - 14:06:15
-
377 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/621266
Mining News Pro - Nippon Steel Corp is still in talks with Teck Resources, despite Glencore’s bid for the Canadian ...
Mining News Pro - Major miner Rio Tinto is looking into the role that steel and iron ore will play in creating an energy ...
Mining News Pro - Iron ore futures in Singapore were on track for the largest monthly decline since October as demand ...
Mining News Pro - Pessimism about steel demand in China weighed on iron ore prices on Thursday, even as traders watched ...
Mining News Pro - Chief executive of MIDHCO visited the projects of this company for the 22nd time this year.
Mining News Pro - Khuzestan steel company just had a new record in daily steel ingot production.
Mining News Pro - Chief executive of Hormozgan Steel Company told the parliament members and officials of the province ...
Mining News Pro - Business manager of Ministry of Industry, mine and trade says that Hormozgan Steel Company is one of ...
Mining News Pro - Hormozgan Steel created its modern strategies 6 years ago and review them this year in order to align ...
No comments have been posted yet ...