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

Published: Jun 5, 2023 11:44
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 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
MMi Daily Iron Ore Report (May 18)
7 hours ago
MMi Daily Iron Ore Report (May 18)
Read More
MMi Daily Iron Ore Report (May 18)
MMi Daily Iron Ore Report (May 18)
Today Iron ore futures trended weaker with the most-traded contract I2609 closed at 803 yuan/mt, down 1.11% from the previous trading session. Port spot prices were 2-4 yuan higher than the previous day. Traders showed moderate enthusiasm in offering; steel mill purchases were mostly driven by rigid demand; overall spot trading sentiment was lukewarm.
7 hours ago
5.18 SMM Global Steel Daily Report
7 hours ago
5.18 SMM Global Steel Daily Report
Read More
5.18 SMM Global Steel Daily Report
5.18 SMM Global Steel Daily Report
SMM News Flash:  [HRC] Today, HRC export prices decreased by 3 USD/tonne compared to the previous month. Some large factories in the north still maintain a high quotation level of 530 USD/tonne because there are still some orders for special specifications, and large factories have no obvious willingness to reduce prices and ship. [India] Indian HRC SAE1006 offers to Vietnam declined sharply to $580/t CFR for June shipments as sellers lowered prices to remain competitive. Vietnam continued to be a key target market for Indian exporters amid weaker demand elsewhere. Market sentiment remained cautious, with Indian exports facing pressure from falling EU prices and uncertain recovery in the Middle East market.
7 hours ago
[China Iron Ore Brief] Iron Ore Concentrates Prices in Shandong Region May Remain in the Doldrums
8 hours ago
[China Iron Ore Brief] Iron Ore Concentrates Prices in Shandong Region May Remain in the Doldrums
Read More
[China Iron Ore Brief] Iron Ore Concentrates Prices in Shandong Region May Remain in the Doldrums
[China Iron Ore Brief] Iron Ore Concentrates Prices in Shandong Region May Remain in the Doldrums
[China Domestic Iron Ore Brief] This week, the pre-tax acceptance price for 64-grade alkaline concentrate (dry basis) at mines and beneficiation plants in Shandong was quoted at 909, up 5. Steel enterprises raised prices accordingly. Most miners maintained normal production, with a few experiencing slight inventory buildup, while most sold output as it was produced. Local steel mills currently mainly purchased as needed. Hebei steel mills had a better purchasing pace than local steel mills. Low-grade resources from small mills and traders saw relatively good transactions, and overall market transactions were moderate. However, iron ore futures showed a relatively weak trend recently.
8 hours ago