Algerian steel producer Tosyalı Algerie, a subsidiary of Turkish steelmaker Tosyalı Holding, has announced that it has signed a memorandum of understanding with Algerian state-owned Feraal to build an iron ore beneficiation plant at the Gara Djebilet mines in Bechar.
Tosyalı Algerie plans to invest $120-150 million in the plant, which will have an annual production capacity of 500,000 mt and is scheduled to be commissioned within less than two years.
With the new plant, the companies aim to increase local production and decrease dependence on iron ore imports.
With the new plant, Tosyalı Algerie will annually consume eight million mt of iron ore, while it currently consumes four million mt.