HomeProduct Complimentary download Chinese Hanlong Group to pour US$5 billion to exploit iron ore mines in Western Africa

Chinese Hanlong Group to pour US$5 billion to exploit iron ore mines in Western Africa

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Publish time: 2nd May, 2012      Source: ChinaCCM
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Hanlong Group, Chinese Sichuan-based private enterprise planned to invest US$5 billion to exploit iron ore mines in Western Africa.

It's known that Hanlong Group reached an agreement with Cameroon government and Australian Sundance Resources Limited (SDL) to jointly develop the Mbalam iron ore project in Cameroon.

Last month, the company invested AUD207 million to acquire 16% shares at SDL and increase the shares to 19% to become the largest shareholder.

The Mbalam iron ore project was the largest investment in Cameroon, according to Hanlong Group