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

17 mins ago

[SMM Coal Flash] Sojitz Agrees to Divest Gregory Crinum Coking Coal Mine in Australia

Japan’s Sojitz Corporation has signed an agreement to transfer all its interests in the Gregory Crinum coking coal mine in Queensland, Australia. The transaction remains subject to conditions, including approval from relevant authorities. The divestment forms part of Sojitz’s strategy to exit most of its Australian metallurgical coal businesses. The company has also committed to reducing its coking coal interests to zero by 2050 as part of its long-term decarbonisation strategy.

17 mins ago

[SMM Coal Flash] India’s BCCL Raises Prices of Selected Raw Coking Coal Grades by Up to 14%

Bharat Coking Coal Limited (BCCL), a subsidiary of Coal India, has approved price increases for selected raw coking coal grades supplied to the non-regulated sector, effective October 14. The revision covers steel grades I and II, direct-feed coal and several washery grades. The company said the adjustment aims to correct price differentials between grades. The increase applies only to selected grades and is expected to marginally raise domestic coking coal costs for steelmakers and other non-regulated buyers.

17 mins ago

28 mins ago

MMi Daily Iron Ore Report (October 14)

DCE iron ore futures were weaker today. The most-traded I2701 contract settled at 674 yuan/mt, down 0.81% from the previous session. Qingdao port spot prices fell about 2 yuan/mt on average. Traders were reluctant to offer while mill enquiries were reasonable, leaving overall trading thin. SMM survey data this week showed iron ore demand still weak.

28 mins ago