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

10 hours ago

6.4 SMM Global Steel Daily Report

China Steel Market Export : [Sheets & Plates] Today, HRC export prices continued to decline by 2 USD/tonne on a daily basis, with transaction prices at 496-504 USD/tonne. Domestic futures fell, and market inquiry activity weakened somewhat. Domestic traders reported that tax-exclusive offers appeared in multiple northern markets, and congestion at some ports persisted. [Steel Billet] Today, square billet export prices were at 473-475 USD/tonne, easing slightly by 1 USD/tonne DoD. Recently, northern market offers were on the high side, but high-priced resources failed to close deals. Additionally, inquiries from outside China weakened, with buyers adopting a wait-and-see approach, and inquiry prices remained 3-5 USD/tonne below market prices. [Rebar] Today, rebar export offers eased slightly by 1 USD/tonne. According to some market participants, rebar inquiry activity was weak with lackluster transactions, and some steel mills plan to venture into markets outside China to seek new order-taking opportunities.

10 hours ago

MMi Daily Iron Ore Report (June 4)

The DCE iron ore futures trended weaker today. The most-traded contract I2609 closed at 767 yuan/mt, down 1.85% from the previous trading session. Port spot prices fell 6-11 yuan/mt from the previous day.

10 hours ago

11 hours ago

Silicon Coal Prices Rose Slightly, Trading Sentiment in Silicon Metal Market Intensified [SMM Silicon Industry Weekly Review]

[Silicon Coal Prices Rose Slightly, Trading Game Sentiment Increased in Silicon Metal Market]: Supply side, northern silicon enterprises' operating rates were basically stable, while southwestern silicon enterprises' operating rates gradually improved. As the southwest successively entered the rainy season with electricity prices adjusted downward, a small number of silicon enterprises resumed production or increased operations, but the pace of production release was relatively slow. Cost side, although southwestern rainy season costs were periodically adjusted downward, current regional costs remained higher than those of northern silicon enterprises in production. Therefore, rising silicon coal raw material prices provided strong cost support below silicon metal prices, while prices above were constrained by the supply-demand relationship. Silicon metal was in a trading game phase, with attention on changes in market sentiment.

11 hours ago