China Railway No.10 and Leone Rock Metals signed iron ore mine phase II mining project contract

Published: Jun 05, 2023 11:44 (GMT+8)

Save

Recently, China Railway No.10 Engineering Group Africa Company and Leone Rock Metals Group signed the EPC general contract for the construction of the second phase of the 12 million mt/year beneficiation plant of the Tonkolili iron ore mine in the Republic of Sierra Leone and the second phase of the iron ore mining project contract, with a total contract value of $520 million. The Tonkolili iron ore mine is located in the Tonkolili mining area in the Northern Province of the Republic of Sierra Leone.

The proven reserves of Tonkolili mine are about 11.9 billion mt, and it is one of the largest single magnetite in the world. The main engineering content of the second-phase mining and mineral processing project is to build a mineral processing plant with an annual output of 12 million mt, which will mine and process transition layer iron ore. The mining project mines and strips a total of 18 million mt of ore per year. The contract period includes the preliminary preparation and trial production period of 16 months, and the official production period of 10 years. The beneficiation project includes the construction of a 12 million mt/year of beneficiation plant and the repairing of the existing 1B processing plant. The contract period is 18 months.

More popular news:

Commodity Price Bubble Finally Burst, but Metals Demand Will Surge

SMM Daily Comments (Jun 1): Base Metals Mostly Rose with SHFE Aluminium Surging, Ferrous Metals Rose across the board, Iron Ore Skyrocketed

SMM Daily Comments (Jun 2): All Metals Closed Higher with SHFE Nickel Leading Gains, Coke Surged

SMM Indonesia Nickel and Cobalt Industry Chain Conference: Global Nickel & Cobalt Supply and Demand Prospect, Impact from NEV Development

Commerzbank Lowers Price Forecast for Copper, Aluminium, Zinc and Nickel for 2023 and 2024

Glencore to Massively Expand Copper Capacity

Market review

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

16 mins ago

[Shyam Metalics to build 9 MTPA steel plant in Maharashtra]

India’s Shyam Metalics and Energy has signed an agreement with the Maharashtra government to invest INR 500 billion (USD 5.19 billion) to build a 9 million tonnes per year greenfield steel complex in Chandrapur. The project is expected to create around 30,000 jobs and is planned to start operations in the current financial year, subject to approvals, clearances and incentives. The investment is part of the company’s expansion beyond eastern India with planned investments also in Odisha, West Bengal and Jharkhand.

16 mins ago

44 mins ago

[BCCL's Raw Coal Production increases 20.7% in September]

Bharat Coking Coal (BCCL) produced 2.57 million tonnes of raw coal in September 2026, up 20.7% from 2.13 million tonnes in September 2025. Raw coal offtake grew 13.7% YoY to 3.15 million tonnes. Coking coal production rose 21.5% to 2.49 million tonnes from 2.05 million tonnes. Opencast mines drove the growth with output up 24.4% at 2.55 million tonnes, while underground mines saw a sharp fall of 76.6% to 0.02 million tonnes.

44 mins ago

2 hours ago

[ EUROFER Reports EU Steel Exports Fell 20% in First Half of 2026 ]

The European Steel Association (EUROFER) reported on October 1, 2026, that EU steel exports to third countries plummeted by 20% year-on-year in the first half of 2026. Shipments of finished steel products dropped 18%, driven by a 19% decline in flat products and a 15% fall in long products, while total EU crude steel production remains suppressed near its historic low of 125.8 million tonnes. The association warned that high regional energy costs continue to severely degrade Europe's global export competitiveness against lower-cost Asian mills. [SMM Iron Ore]

2 hours ago