Once again, we are learning more about the project from African media, instead of company announcements.
FYI....
Mbalam-Nabeba Project: Construction work begins on the base camp and the processing plant
https://bougna-net.translate.goog/2024/11/08/contact/projet-mbalam-nabeba-place-aux-travaux-de-construction-de-la-base-vie-et-de-lusine-de-transformation/?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-US&_x_tr_pto=wapp
Ten months, almost to the day after the technical launch of construction work on the industrial mine for the exploitation of the Mbalam iron ore deposit, things are becoming clearer on the Mbalam-Nabeba project.
According to our information, 50 40-foot containers loaded with materials and equipment of all kinds have left various Chinese port platforms for the Port of Kribi in Cameroon. This equipment will be used for the construction of the site's living base and the iron ore extraction plant.
While waiting for the containers to dock, work is intensifying on the ground. "To date, the construction site for the access road to the Mbalam site is completely completed. All that remains is for the deforestation of the site to be carried out incessantly, thus allowing us to continue with the construction of the base camp and the factory," explains Patrick TCHOUWA, Director of Administration and Public Relations of Cameroon Mining Company.
Iron Fallout
Dear to the two presidents Paul BIYA and Denis Sassou NGUESSO, the project of industrial exploitation of the gigantic iron ore deposits in Avima, Nabeba and Badondo is therefore entering its decisive phase.
According to the established schedule, once the cargo has been unloaded at the Port of Kribi and transported to the site, construction work on the base camp and the factory will begin. A period of two to three months is planned for this. The operationalization of the factory, and the start of iron production would therefore occur immediately afterwards.
"We are forecasting an annual capacity of 125 million tonnes of iron ore by the end of this decade. This will propel these two countries as significant players in the global iron ore market ," announces Patrick TCHOUWA.
The Cameroonian and Congolese economies will then be able to begin to reap the fruits of this iron extracted from the mines of their two respective countries. "A steelworks will be built in Kribi. Named Cameroon Steel, it will make it possible to process the 15% of the iron ore that will be extracted at Mbalam, Avima, Badondo and Nabeba . "
"The socio-economic impact of these projects is profound. In figures, over the next 50 years, Cameroon will earn 25 billion dollars, or approximately 12,500 billion FCFA in terms of tax revenues. As for Congo, it will earn double, or even triple, because these are its mines. Bestway Finance Ltd and its partners are committed to creating more than 20,000 direct and indirect jobs, significantly stimulating local employment and economic activity ," concludes Patrick TCHOUWA.
With a total capital investment (CapEx) of $9.3 billion, the flagship projects developed by the consortium of Chinese companies led by BESTWAY FINANCE LTD are intended to redefine the economic landscapes of the Republics of Congo and Cameroon.
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