Lobe Iron Ore Mine

Description

In May 2022, Sinosteel, a Chinese state-owned mining company, signed a $690 million contract with Cameroon to develop the mine. The contract is for 50 years. Sinosteel will build a pipeline, a beneficiation plant, a power plant, and a mineral terminal at the port of Kribi. A 20 year deal to exploit iron ore mines in Lobe to be shipped out of Kribi via a 20 km pipeline

Finance