May 09, 2022 08:11 PM

BUSINESS

Sinosteel Gets Permit to Exploit Iron Ore in Cameroon

By Luo Guoping and Manyun Zou

Sinosteel has been seeking the exploitation permit since November 2015, seven years after it gained exploration rights. Photo: Sinosteel

Sinosteel has been seeking the exploitation permit since November 2015, seven years after it gained exploration rights. Photo: Sinosteel

China’s Sinosteel Corp. has struck a deal with the Cameroonian government to begin production of iron ore at a mine, becoming the latest Chinese firm to tap the valuable resource in West Africa.

According to a company statement, Sinosteel obtained a permit to exploit the Lobé mine after signing a contract with Gabriel Dodo Ndoke, Cameroon’s minister of mines, industry and technological development, on Friday.

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