SteelOrbis Shanghai
On May 24 several Chinese enterprises and Belinca Mining Co. Ltd. (COMIBEL) signed a mining rights agreement within the scope of the Gabon Belinca iron ore mine project with the government of Gabon.
The mining rights agreement in question establishes a foundation for construction work and exploitation operations in the Gabon Belinca iron ore mine project. Chinese enterprises like China National Machinery & Equipment Import & Export Corporation will carry out close cooperation backed by the financial support of the Export-Import Bank of China with the government of Gabon. Under the agreement, the Chinese companies will help construct the Belinca iron ore mine as well as the necessary railway, port, water factory, and power plant facilities. The agreement allows for exploitation of iron ore at the mine for a period of 25 years, with an estimated mining quantity of 30 million mt per year.