View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
September 25, 2011

Sichuan Hongda to invest $3bn in Tanzania mining operations

Chinese firm Sichuan Hongda will invest $3bn to carry out coal and iron ore mining operations in Tanzania.

By admin-demo

Chinese firm Sichuan Hongda will invest $3bn to carry out coal and iron ore mining operations in Tanzania.

The funding will be used to construct the Mchuchuma integrated coal mine, Liganga iron ore mine and a 600MW thermal power station in southern Tanzania, reports Reuters.

Tanzania’s state-run National Development Corporation (NDC) and Sichuan Hongda have formed a joint venture, Tanzania China International Mineral Resources (TCMR), to build the mines.

Sichuan Hongda will hold an 80% stake in TCMR, while the remaining 20% stake will be held by NDC.

According to government estimates, the Liganga area, which is rich in iron, vanadium and titanium minerals, has estimated reserves between 200 and 1,200 million metric tonnes, and the Mchuchuma deposits have coal reserves of more than 480Mt.

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Friday. The mining industry's most comprehensive news and information delivered every month. The mining industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Mining Technology