Fortescue awards major contract in Gabon
PERTH (miningweekly.com) – Iron-ore major Fortescue Metals has awarded a significant earth moving and crushing services contract to mining services company Capital at the Belinga iron-ore project, in Gabon.
Fortescue earlier this year signed a mining convention for the project, with mining planned to start in the second half of 2023.
Capital said in a statement on Monday that the contract would run for five years, and was expected to generate revenues of up to $30-million a year for the company, once fully operational.
The contract involves both earthmoving and crushing services. Capital will use existing equipment and is in the process of purchasing $15-million of additional equipment.
Capital has already begun mobilising equipment to the site. This mining and crushing services contract is in addition to the three-year reverse circulation and diamond drilling services contract at the site, announced earlier this year, where drilling recently commenced.
Balinga is expected to require a capital investment of $200-million for the early stage operation, with investment to take place over 2023/24. The project will involve a conventional openpit operation with the ore to be trucked and railed over existing infrastructure, and shipped from the Owendo Mineral Port, near Libreville.
The project is operated by Ivindo Iron, which is 90% held by the Belinga joint venture company, which, in turn, is 80% held by Fortescue and 20% by its joint venture partner the African Transformation and Industrialization Fund.
Under the Gabon Mining Code, the Gabon government will have a free carry interest of 10% in Ivindo Iron.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Multotec, recognised industry leaders in metallurgy and process engineering help mining houses across the world process minerals more efficiently,...
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
