Caixin
May 09, 2022 08:11 PM
BUSINESS

Sinosteel Gets Permit to Exploit Iron Ore in Cameroon

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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