JOHANNESBURG Nov 7 Reuters Angola aims to start up iron ore production in the next two to three years through a state company partnership with private operators including leading international trading house Trafigura an Angolan industry official said on Wednesday.
Diamantino Pedro Azevedo president of state owned Ferrangol EP told Reuters the integrated iron oremanganese and steel project would extract ore from two mining areas Kassala Kitungo in Kwanza Norte province and Cassinga in southern Huila province.
We foresee that possibly towards the end of 2014 or in 2015 we can start up production at a still low level and then pass on to other output phases Azevedo told Reuters on the sidelines of an iron ore conference organised by Metal Bulletin in Johannesburg.
The project undergoing a feasibility study aimed at initial production of iron ore concentrate but included plans for smelters Our intention is to get to the production of steel Azevedo said.
He saw initial iron ore production of three million to four million tonnes a year ramping up to levels of 20 million and 30 million tonnes a year The resources are enormous he said without giving an estimate for Angolas iron ore reserves.
Angola which was devastated by a 27 year civil war that ended a decade ago is Africas second largest oil producer after Nigeria.
Oil revenues represent more than 95 percent of the countrys export income and around 45 percent of gross domestic product but President Jose Eduardo dos Santos government is looking to diversify the economy and develop other areas of industry.
Azevedo said the private DT Group a Singapore registered joint venture that includes Trafigura had a 60 percent stake in the Angolan integrated iron ore and steel project while a private Angolan group Genios held 10 percent State owned Ferrangol held the remaining 30 percent.
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Nov 07 2012nbsp018332Azevedo said the private DT Group a Singapore registered joint venture that includes Trafigura had a 60 percent stake in the Angolan integrated iron ore and steel project while a private.
Jun 22 2020nbsp0183323 7 1 Iron ore consumption vs steel production 3 7 2 Demand from Chinas construction industry 3 7 3 Chinas iron ore imports 4 Major Iron Ore Producers in China 4 1 Mines.
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The iron ore boom powering the profits of the worlds biggest mining companies is showing no sign of fading thanks to stronger than expected Chinese steel demand.
Jul 31 2020nbsp018332As Australias high flying iron ore miners focus on the threat posed by new African mines Brazils Vale flagged a big expansion and vowed well be back.
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