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

15 mins ago

[SMM Steel] Indian HRC Sellers Push Export Levels Higher; Billet Holds at 465–470USD/tonne FOB

[India Export] India’s HRC export market showed a firmer tone, with some sellers seeking around 508–510USD/tonne FOB India for Vietnamese buyers. Several primary mills also have HRC cargoes either recently departed or currently being loaded, with some expected to reach Europe around the opening of the next quota period. Billet export indications were heard at 465–470USD/tonne FOB India. Imported ferrous scrap remained largely flat, with shredded scrap around 410USD/tonne CFR India. Domestically, HRC sentiment strengthened, with indications that Ex-yard Mumbai prices could move close to 59,000INR/tonne. Overall, HRC showed the strongest upward momentum, while billet and scrap remained comparatively stable.

15 mins ago

29 mins ago

[China Iron Ore Brief] Prices of Iron Ore Concentrates in Shandong Region May Rise

This week, mines and beneficiation plants in Shandong quoted 64% grade alkaline powder at 810 yuan ex-mine on a dry, pre-tax, acceptance basis, and steel mills raised prices in tandem. Most mines and beneficiation plants maintained normal production as planned; steel mills, especially those in Hebei, purchased actively, with small mills and traders shipping according to scheduled orders. Trading in the region was relatively active throughout the week, and miners held no excess inventory. Recently, iron ore futures have shown a strong trend, which may lift domestic concentrate prices.

29 mins ago

38 mins ago

[SMM Steel]

[Steel billet] Today, the export FOB price of billet edged up by $4/mt, with Jiangyin Port quoted at $465–470/mt. According to feedback, the recent increase in billet export offers was larger than that of some overseas exporters, and its price advantage was relatively weak, especially in the Southeast Asian market, where it was difficult to compete. By contrast, some deep-sea orders were received.

38 mins ago