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

Published: Jun 5, 2023 11:44

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

1 hour ago

Ningbo HRC Inventory Hits 7-Week High, Up 31,000 mt WoW

HRC inventory in Ningbo stood at 356,000 mt as of August 19, 2026, up 31,000 mt or 9.5% week-on-week from 325,000 mt on August 12, marking the highest level since early July, according to SMM survey. Most warehouses posted inventory builds of varying degrees this week, sustaining the overall restocking trend.

1 hour ago

【Russian Coal Exports to South Korea Rise 89.4% to 12.5 Mt in H1 2026】

Russia exported 12.5 mnt of coal to South Korea in the first half of 2026, an increase of 5.9 mnt, or 89.4%, year on year. Russia accounted for approximately 22% of South Korea’s coal imports and became its second-largest supplier after Australia. South Korea’s total coal imports rose by 21.3% to 56.9 mnt, with Russia contributing around 59% of the net increase. Australian shipments to South Korea increased by 35.4% to 19.5 mnt, while Indonesian supplies declined by 2.5% to 11.9 mnt and Canadian deliveries rose by 33.3% to 5.6 mnt. Combined growth from Russia and Australia reached 11 mnt, exceeding the 10 mnt increase in South Korea’s total imports and offsetting lower shipments from Indonesia, Colombia and the United States.

1 hour ago

【Global Coal Markets Strengthen as European Thermal Coal Exceeds $124/t and Australian HCC Rebounds to $224/t】

Global coal markets generally strengthened over the past week, although performance varied across regions and grades. European thermal coal indices rose above $124/t, supported by firmer oil and gas prices, geopolitical risks and weaker renewable and nuclear generation during the heatwave. South African 6,000 kcal/kg high-CV coal exceeded $109/t, with additional support from Indian enquiries and a 12 August train derailment that disrupted deliveries to Richards Bay Coal Terminal. China’s Qinhuangdao 5,500 NAR spot price strengthened above $126/t. Coal stocks at nine major ports declined by 0.87 mnt week on week to 26.51 mnt, while inventories at six major coastal thermal power plants fell by 0.25 Mt to 14.01 Mt. Lower inventories and tighter mine safety inspections supported domestic prices and increased Chinese traders’ interest in imported blending coal. Indonesian 5,900 GAR coal rose to $104.5/t, while 4,200 GAR material approached $64/t. Australian thermal coal prices were mixed, with 6,000 high-CV coal falling below $128/t while 5,500 mid-CV material strengthened to $95–96/t. Meanwhile, limited availability of premium metallurgical coal, renewed purchasing and improved Chinese market sentiment lifted the Australian HCC index to $224/t.

1 hour ago