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 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
[China Iron Ore Brief] Prices of iron ore concentrates in the Liaodong region may consolidate
5 hours ago
[China Iron Ore Brief] Prices of iron ore concentrates in the Liaodong region may consolidate
Read More
[China Iron Ore Brief] Prices of iron ore concentrates in the Liaodong region may consolidate
[China Iron Ore Brief] Prices of iron ore concentrates in the Liaodong region may consolidate
The domestic ore market in Liaodong remained relatively stable. Steel mills’ tendering pace was slow, and most traders were closed and staying on the sidelines; a few offered low prices only as needed. However, amid no inventory buildup at beneficiation plants and under funding pressure, low prices were mostly hard to accept. Both sides were locked in a stalemate, and spot supply in the market has tightened temporarily, strengthening support for ore prices. Still, most steel mills purchased at stable prices, with some areas still showing a desire to push for lower prices. In addition, the price spread between domestic and imported ore has not narrowed significantly, and steel mills show an even stronger preference for imported ore.
5 hours ago
MMi Daily Iron Ore Report (August 19)
6 hours ago
MMi Daily Iron Ore Report (August 19)
Read More
MMi Daily Iron Ore Report (August 19)
MMi Daily Iron Ore Report (August 19)
Iron ore futures traded firmer today. The DCE most-active contract I2701 settled at RMB 712/mt, up 0.78% from the previous trading day. Spot prices at Qingdao Port declined by RMB 2-3/mt. Traders were reasonably active in offering, but mill purchases remained largely restocking on a just-in-need basis, leaving overall spot transactions fairly subdued.
6 hours ago
8.19 SMM Global Steel Daily
6 hours ago
8.19 SMM Global Steel Daily
Read More
8.19 SMM Global Steel Daily
8.19 SMM Global Steel Daily
[Flat products] Today HRC and other flat-product export prices rose by 1-2 USD/tonne day on day, with HRC transactions concentrated in the 485-488 USD/tonne range. The sustained rally on the domestic futures board lifted sentiment at the export end, overseas purchasing demand that had been suppressed earlier recovered somewhat, and enquiry activity in the market picked up, with demand concentrated in coated and galvanised grades. [Billet] Today billet export FOB prices were steady, with Jiangyin port offers at 448-454 USD/tonne. According to market feedback, overseas buyers feel little urgency to purchase and mostly stay on the sidelines, leaving export prices under continued pressure, while domestic mills still face undiminished per-tonne production cost pressure that leaves little room for further concessions, making deals harder to conclude. [Rebar] Rebar export offers at Tianjin port rose by 2 USD/tonne in this morning's session, then were marked down as the futures board retreated in the afternoon, leaving overall transactions at 473-478 USD/tonne. According to exporters, market enquiries were on the quiet side today; with the yuan appreciating, overseas buyers showed limited willingness to accept higher prices and export order bookings were weak.
6 hours ago
China Railway No.10 and Leone Rock Metals signed iron ore mine phase II mining project contract - Shanghai Metals Market (SMM)