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China Investment Fund negotiating exploration of iron ore deposits in Angola

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China Investment Fund negotiating exploration of iron ore deposits in Angola

China Investment Fund and the government of Angola are negotiating a project to mine iron ore deposits associated with a steelworks in the country's Kwanza Norte province, Macauhub reported Aug. 1, citing the provincial director of Industry, Geology and Mining, Emanuel de Sousa.

The project is expected to be located in the Dondo industrial hub, while feasibility studies are being carried out for the Cerca steel project.

In July 2016, the country's mines ministry announced that exploration of the Cassinga iron ore deposits could be resumed this year. Negotiations between state-owned Empresa Nacional de Ferro de Angola and a foreign company are currently underway.

The Cassinga integrated project in the Huíla province includes mines in Cassinga and Cateruca, and has the potential to produce 15 million tonnes of iron at a rate of 1.5 million tonnes per year.