国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

News >Bizchina

Sierra Leone welcomes Chinese steel mill's investment

2010-07-17 11:58

FREETOWN, Sierra Leone - Sierra Leone Mineral Resources Minister Alpha Kanu on Friday welcomed a $1.5-billion investment in a major iron ore mine in the country, saying that it will boost the local economy and create thousands of jobs.

The Shandong Iron and Steel Group Co, Ltd of China has signed a binding Memorandum of Understanding with the London-listed African Minerals to acquire a 25-percent share of African Minerals' Tonkolili iron ore mine in Sierra Leone at the cost of $1.5 billion, African Minerals announced on Tuesday.

"It is a great mining achievement for Sierra Leone, as it will bring much needed foreign exchange to boost up the fragile Sierra Leone economy," Kanu said.

Related readings:
Sierra Leone welcomes Chinese steel mill's investment China steel maker buys rights to mine Oz iron ore
Sierra Leone welcomes Chinese steel mill's investment Iron ore swaps gain more ground
Sierra Leone welcomes Chinese steel mill's investment Steel mills expand iron ore output to ward off soaring import costs
Sierra Leone welcomes Chinese steel mill's investment Steelmakers to see new low in profits in July

"We are also delighted that some 2000 Sierra Leonean youths will be employed, which will be increased to between 4,000-5,000 jobs in the future," he added.

The investment came with an off-take agreement for a total of up to 10 million tons of iron ore at discounted prices each year.

African Minerals said the proceeds from the deal will be used to build a railway line linking the mine and the port. The railway will be completed in the fall of 2011, and the first delivery of iron ore will take place in the fourth quarter of the same year.

Shandong Iron and Steel Group is one of the largest steel enterprises in China while African Minerals is Sierra Leone's biggest exploration and mining company.

Earlier, African Minerals signed an agreement with China Railway Materials Commercial Corporation, allowing the state-owned Chinese enterprise to take 12.5 percent of its stakes.

Related News:

陆河县| 新密市| 忻城县| 永靖县| 玛纳斯县| 新竹市| 丹凤县| 贡嘎县| 社旗县| 兴城市| 灌南县| 甘德县| 华容县| 交口县| 都江堰市| 临沂市| 观塘区| 新丰县| 宝应县| 甘泉县| 灌云县| 宣威市| 林州市| 洛南县| 休宁县| 西充县| 涞源县| 遂川县| 铜川市| 海城市| 津市市| 淳化县| 盐城市| 大足县| 新河县| 进贤县| 东兴市| 贵南县| 怀来县| 无为县| 滨州市|