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.
