Hony Capital to collaborate with WISCO on Madagascar iron ore project

Friday, 27 May 2011 16:04:15 (GMT+3)   -  
SteelOrbis News

Zhao Linghuan, chairman of Chinese investment consulting company Hony Capital, has announced that the company has decided to collaborate with Chinese steelmaker Wuhan Iron and Steel Co. (WISCO) in the largest iron ore project in Madagascar, Africa. However, he did not reveal the total investment in the project and the size of their own investment.

According to previous media reports, WISCO has planned to launch exploratory iron ore drilling in Madagascar's Soalala region at the end of May this year. Last year, WISCO was granted mining rights for the iron ore project by the Madagascar authorities.

Hony Capital is one of the largest private equity firms in China.

Tags: iron ore , raw mat , China , Madagascar , Africa , Far East , WISCO , investments , mining , East Africa , East Asia and Pacific | similar articles »