Belinga Iron Ore project, Gabon – update
Name of the Project
Belinga Iron Ore project.
Location
North-east Gabon.
Project Owner/s
Fortescue Metals Group, through its incorporated joint venture company Ivindo Iron.
Under the Gabon Mining Code, the Gabon government will have a 10% free carry interest in Ivindo Iron.
Project Description
The project includes the early development Belinga for the production of up to two-million tonnes a year of iron-ore, while studies are advancing the potential designs of a large-scale development.
The early development involves conventional openpit mining methods to produce the ore, which will be trucked and railed over existing roads and rail infrastructure.
Potential Job Creation
Not stated.
Net Present Value/Internal Rate of Return
Not stated.
Capital Expenditure
The capital estimate for the early-stage mining development is $200-million.
Planned Start/End Date
Mining is planned to start in the second half of 2023, with investment to take place in 2023 and 2024.
Latest Developments
The Belinga iron-ore project is on track for first shipment by the end of this year.
"Early stages of exploration indicate multibillion-tonne potential and high grades," the company has indicated.
Key Contracts, Suppliers and Consultants
Capital (earthmoving and crushing services).
Contact Details for Project Information
Fortescue Metals Group, tel +61 8 6218 8888.
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