Cameroon steel partnership company
Our company and Sinosteel Corporation have accessed exploration rights of iron ore project in Cameroon. The limited liability company with Rhine Mineral and Sinosteel Corporation has been established to manage this project.
The project area of iron ore is 978.3 km2, which mainly consist of Magnetite with average 36% iron. According to a detailed geological investigation report submitted by North China Engineering Investigation Institute co., LTD. on July, 2011. Proven reserves of the iron ore reached 631 million tons, far exceeding the first estimate of 230 million tons.
The total reserves of this project are massive, which has been primarily detected by our company. Besides, the exploitation of iron ore in Cameroon is promising in terms of the huge reserves. Opencast working is suitable for the project. At the same time, local natural gas resources are abundant and close to shoreline, as a result, it is easy for gas resources to be exploited. Moreover, potential resources worth is more than 25 billion dollars.
There are advances on the project of iron ore in Cameroon. Currently infrastructure is harbor. Considering the collaboration modality in the future, there are no preconditions for our company, and it depends on who are our partners.