From the article posted by DVEous above...citing a March 2022 interview with Cedric Ketchanga, Administrative Director of Bestway Finance Ltd
"What you need to know, and which is important, is that in the Kassaïcraton, where all these permits are found, in particular Mbalam on the Cameroonian side, the cost price of the ore is around 30 dollars per ton.And the cost of transport, we can add 15 to 20 dollars to Asia. What makes that in reality, you have a cost price of your ore to 50 dollars. This is the lowest ore cost in the world. Because all these major iron ore-producing countries (Australia, Brazil, Canada), have weighted costs around 90 to 100 dollars. Why? Because in terms of railways, the costs are enormous. The investments are greater and above all, in terms of extraction, we have agrace in the Kassaï craton. Iron is DSO, which means you don't need to drill. It is iron that is picked up flush. It actually reduces operating costs. So you have to understand one thing, it's the appetite that there is around this project is due to one thing. We have an unbeatable operating cost in the world. This is why we have all the interests of these Chinese companies that come to us. Our operating cost is actually around $30. Whatever the price of iron on the market, we will always remain competitive."
Extraction & Shipping cost of IO is $45/tonne $50 cost per tonne is a benchmark to work with 125MPTA DSO = USD6.25B PA 15-year evolution is USD93.75B
And that's only for the IO. Then there's the Steel Mill(s) and additional 'mineral resource' potential. The estimate I read was 15% of the Ore was to remain for domestic infrastructure building in those central West African nations.
I still think there's more scope to this project, but that 125MTPA starting point should help bolster the relevance of the China Mineral Resources Group buying group/'cartel'. CMRG currently has 300MTPA of IO on its books.
Chen Derong - Chairman of the Board of Directors of Baosteel - is following through on his promise to speed up overseas expansion, given the domestic Steel industry was rocked by the sharp decline in property construction.
GLTAH
ANS Price at posting:
1.7¢ Sentiment: Buy Disclosure: Held
