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Algeria awards mining deal to Chinese firm - newspaper
14 March 2017
Algeria has awarded a contract to a Chinese company to exploit one of its largest iron ore mines, Algerian newspapers reported on Tuesday.
The government-controlled National Steel and Iron Company signed an agreement to develop Gara Djebilet iron mine in Western Algeria with the Chinese government-owned Sinosteel Corp on Monday, Arabic daily El-Khabar and other dailies said.
The Beijing-based Sinosteel will first conduct a feasibility study on the development of the mine, to be completed in late 2017, it said.
Algerian Minister of Industry and Mines Abdul Salam Bushoarb was quoted as saying that the contract involves investment by the Chinese company to extract and process iron ore and transport it to domestic and overseas customers.
The paper said the Algerian company is planning to construct a plant to handle the mine's production in 2018, adding that Gara Djebilat, which was discovered during the 1950s, contains iron ore deposits up to 2 billion tonnes.
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