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Mining

Grand Zambi iron ore: G-Stones reportedly ready to start exploitation in the next few months

Grand Zambi iron ore: G-Stones reportedly ready to start exploitation in the next few months
  • Comments   -   Wednesday, 30 August 2023 17:50

(Business in Cameroon) - In his 2023 New Year message to the nation, President Paul Biya promised that some major mining projects would commence operations. In his address, he notably pointed at three projects including the Bipindi–Grand Zambi iron ore, entrusted to G-Stones, a subsidiary of Cameroonian diversified group Bocom.  This particular promise is about to get fulfilled, according to information gathered after a review meeting chaired by Interim Mines Minister Fuh Calistus Gentry.

During the meeting, G-Stones explained that it was only awaiting the delivery of the equipment it ordered to launch the iron ore project.  "Everything is ready for the mine to unfailingly start operations in the next few months when the equipment for the open-pit mine is delivered and the road infrastructure completed,” reports the state-owned daily Cameroon Tribune, citing a source at the Ministry of Mines.

G-Stones Ressources signed an investment agreement with the Republic of Cameroon for the exploitation of that iron deposit on November 13, 2019. The project, which includes the construction of a steel complex in Fifinda (Southern Region), will exploit the about 160 million-ton iron ore deposit for 40 years.  

BRM

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