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 to learn 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

3 hours ago

[SMM HRC Arrivals] Mainstream Market Arrivals Continued to Increase WoW This Week

3 hours ago

4 hours ago

5.12 SMM Global Steel Daily Report

SMM News Flash: [Sheets & Plates] Today's HRC export prices fell $1/mt MoM due to a firm exchange rate. Other sheets & plates mostly remained stable. Market inquiries still existed, but actual transactions were limited. Traders reported recent medium-thickness plate deals flowing to Vietnam and Africa. [India] Indian HRC SAE1006 export offers to Vietnam were largely stable at around $615/t CFR. Market transactions remained relatively quiet, with no major orders reported as Vietnamese buyers stayed cautious at current price levels. Market sentiment was stable but subdued, while mills continued to maintain firm offer levels.

4 hours ago

[Domestic Iron Ore Brief] Iron Ore Concentrates Prices in Tangshan Area May Show Volatile Movement

[Domestic Iron Ore Brief] The domestic ore market in the Tangshan area remained generally stable. Tender prices from local major mines increased slightly. The current delivery-to-factory price for 66-grade iron ore concentrates on a dry basis, tax included, was 995-1,000 yuan/mt. Sentiment at mines and beneficiation plants as well as beneficiation plants was notably firm on higher price expectations, with some unwilling to make shipments as costs were below their psychological expectations. Currently, steel mill profits have improved, and the cost-effectiveness of domestic iron ore concentrates has slightly improved, with overall market transactions showing improvement compared to the previous period. However, iron ore futures weakened today.

4 hours ago