Shanghai: Chinese steelmaker Wuhan Iron & Steel (Wugang) plans to launch its second phase of 10m tonsper year iron ore project next year in Liberia, West Africa.
The completion of the second phase project would make Bong mine’s total iron ore production capacity reach 10m tons annually by the first quarter of 2017. The Bong project is developing one of the largest iron ore deposits in Africa. Wugang acquired a 60% controlling stake in the project in 2010 from the Liberian government.
The Bong project will play a crucial role in helping Wugang achieve its target to realize total self-sufficiency in iron ore from domestic and overseas iron ore operations, the company said. [10/12/13]