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)
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.

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

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
MMi Daily Iron Ore Index Prices for 2nd October 2026
34 mins ago
MMi Daily Iron Ore Index Prices for 2nd October 2026
Read More
MMi Daily Iron Ore Index Prices for 2nd October 2026
MMi Daily Iron Ore Index Prices for 2nd October 2026
34 mins ago
[Nucor quarterly guidance points to stronger earnings as firmer steel prices offset higher costs]
1 hour ago
[Nucor quarterly guidance points to stronger earnings as firmer steel prices offset higher costs]
Read More
[Nucor quarterly guidance points to stronger earnings as firmer steel prices offset higher costs]
[Nucor quarterly guidance points to stronger earnings as firmer steel prices offset higher costs]
Nucor (NYSE:NUE) issued quarterly guidance pointing to stronger earnings alongside rising product costs, as firmer steel prices met higher input costs. Steel mills and steel products improved while raw materials softened, underscoring the differing pace across three arms that turn recycled scrap into steel via electric-arc furnaces nationwide. Scrap, energy and alloying costs feed cash costs directly, trimming part of the gain from firmer selling prices. Cooler inflation eased expectations of further rate hikes and the S&P 500 edged higher in early October, though trade measures on imported steel remain unsettled. The stock traded at 235.98 USD, up 2.23 USD, or 0.954%. Nucor keeps expanding and upgrading mills to lift capacity; results later this month will test pricing and costs.
1 hour ago
[Essar Group plans 15 billion USD integrated steel plant in Iowa, targeting 2030 output]
1 hour ago
[Essar Group plans 15 billion USD integrated steel plant in Iowa, targeting 2030 output]
Read More
[Essar Group plans 15 billion USD integrated steel plant in Iowa, targeting 2030 output]
[Essar Group plans 15 billion USD integrated steel plant in Iowa, targeting 2030 output]
India's Essar Group, via US unit Mesabi Metallics, plans to invest 15 billion USD in an Iowa integrated steel plant, targeting first output in 2030. The project was announced at the White House on 28 September by President Donald Trump together with Essar co-founder Ravi Ruia and Mesabi Metallics chairman Rewant Ruia. Phase one is designed for 7.5 million tonnes a year, rising to about 10 million tonnes at full build-out. Upstream supply comes from Mesabi Metallics' new mine at Nashwauk, Minnesota, on which Essar has spent over 2.5 billion USD; it should yield roughly 7.5 million tonnes of iron ore annually and some 350 jobs, the first new US iron ore mine in 50 years. The US Export-Import Bank announced up to 10 billion USD in financing for the mine expansion in September. The plant should create at least 1,750 permanent jobs, plus 6,000 construction jobs, with the White House estimating 95 billion USD of economic impact from phase one.
1 hour ago