On August 2, Hubei Province-based Chinese steelmaker Wuhan Iron and Steel (Group) Co. (WISCO) announced that the first phase of the Bong mine iron ore project in Liberia was successfully commissioned on July 30. WISCO owns a 60 percent stake in the project following an investment of $500 million.
The project in question is the biggest iron ore project to be implemented by a Chinese steelmaker in Africa. The first phase will have an annual iron ore concentrate output of 1 million mt, while a further annual iron ore concentrate output of 9 million mt will be added in the second phase.