Chinese Companies Sign MoU to Explore Iron Ore in Algeria
Chinese media reported that a consortium of three Chinese companies, composed of Metallurgacal Corporation of China, China International Water and Electric Corporation and Hunan Heyday Solar Corporation, signed a memorandum of understanding with Algerian National Iron and Steel Company on exploiting iron ore in Algiers. The Chinese consortium will carry out a feasibility study on the exploitation of Gara Djebilet iron ore in western Algeria.
The Gâra Djebilet mine is a large iron mine located in western Algeria in the Tindouf Province. Gâra Djebilet represents one of the largest iron ore reserves in Algeria and in the world having estimated reserves of 1.7 billion tonnes of ore grading 30% iron metal.