Chinese consortium to develop iron ore deposit in Algeria

Wednesday, 31 March 2021 17:44:33 (GMT+3)   |   Istanbul

A Chinese consortium has signed a memorandum of understanding (MoU) with Algeria-based Algerian National Company of Iron and Steel to develop an iron deposit in Algeria, Reuters has reported.

The project will be carried out at the Gara Djebilet iron mine in Tindouf, located in southern Algeria, Reuters stated, citing the country’s minister of energy, Mohamed Arkab. The investment is expected to cost $2 billion, although this is still a preliminary estimation, as SteelOrbis understands.

The Chinese consortium includes China International Water & Electric Corp, Heyday Solar and the iron and steel manufacturer Metallurgical Corporation of China.

Most Recent Related Articles

S. Africa’s iron ore output up by 24 percent in February from January

Iron ore exports via Port Hedland up 24.5 percent in Mar from Feb

Ferrexpo’s iron ore output increases by two percent in Q1

Moody’s revises global steel and mining industry outlook to positive amid rising steel demand

Australia’s Mineral Resources produces first iron ore at Wonmunna