Printer Friendly

Iron ore boom in West Africa.

Guinea, Sierra Leone, Liberia and Republic of Congo may supply 250m tons, or 9% of global iron ore output, by 2020. To service this boom, African Minerals, and miners Rio Tinto and ArcelorMittal, are to spend $25bn on around 5,000 km of new and rebuilt railways and 11 new ports.

Iron ore exports from African Minerals' Tonko-lili's Marampa mines are set to boost Sierra Leone's I economy by 51% this year, the fastest projected pace of any nation in the world, according to the International Monetary Fund. African Minerals is spending $1.2bn on rails and ports in the first phase of its Tonkolili project.

In Guinea, Rio Tinto is spending sibn on the first phase of its Simandou project, estimated to produce 95m tons of ore by 2015 and it plans to invest more than $iobn on an iron-ore mine, 650 km of industrial railway, 21 km of tunnels and a new deep-water port south of the capital, Conakry, creating about 10,000 direct and indirect local jobs. In Liberia, ArcelorMittal, the world's biggest steelmaker, has invested $8oom to refurbish an iron ore mine, port and railways to produce the nation's first exports. The company renovated 240 km of railway lines, rebuilt bridges and roads and installed a new drainage system in the first phase of the project's development.
COPYRIGHT 2012 IC Publications Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2012 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:MINING
Publication:African Business
Article Type:Brief article
Geographic Code:6SIER
Date:Apr 1, 2012
Words:221
Previous Article:Ethiopia diversifies exports.
Next Article:South Africa venture capital for junior miners.
Topics:

Terms of use | Privacy policy | Copyright © 2021 Farlex, Inc. | Feedback | For webmasters |