Sinosteel Engineering & Technology

Sinosteel Gets Permit to Exploit Iron Ore in Cameroon

Equity Bottom-Up
352 Views, 12 May 2022 13:12
EXECUTIVE SUMMARY
  • China’s Sinosteel Corp. has struck a deal with the Cameroonian government to begin production of iron ore at a mine, becoming the latest Chinese firm to tap the valuable resource in West Africa.
  • According to a company statement, Sinosteel obtained a permit to exploit the Lobé mine after signing a contract with Gabriel Dodo Ndoke, Cameroon’s minister of mines, industry and technological development
  • The state-owned mining giant will invest about $700 million to develop the Lobé mine, which is estimated to have about 600 million tons of iron ore reserves
detail (2-minute read)
WHAT’S TRENDING
Insights
  • Trending
  • Latest
logo
Logo
Caixin Global
Articles from Caixin Global
Caixin Global
ChinaMulti-Asset

Caixin is a media group dedicated to providing financial and business news through periodicals, online content, mobile a... 

Zoom:
NaN%
x