[SMM Iron & Steel] Rep. Congo and China Signed Memorandum to develop 300 Mtpa Iron Ore Project

Published: Apr 2, 2026 15:40

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On 26 March 2026, the Democratic Republic of the Congo and China signed a Memorandum of Understanding that designates the Grande Orientale Iron Ore Project (MIFOR) as a flagship venture receiving priority support from Chinese stakeholders. It is estimated that this mining concession holds cumulative resources of between 15 billion and 20 billion tonnes, boasting an average iron grade exceeding 60 per cent. The first phase of the development is projected to require a capital expenditure of 28.9 billion US dollars. Initial production is targeted at 50 million tonnes per annum, with a long-term strategic objective to expand operational capacity to 300 million tonnes per annum.

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