China Kingho Group Obtained the Mining Right Certificate for Exploration of Large-scale Iron Ores in Sierra Leone

 Xinhuanet.com Beijing Channel, March 6-----Recently, China Kingho Group officially obtained the mining right certificate for exploration of large-scale iron ores in Sierra Leone. This indicates that the Group has obtained the mining rights for large reserves of iron ore by means of independent risk exploration overseas.
    According to relevant information, since 2010, China Kingho Group has successively obtained 14 exploration rights in Sierra Leone, with a total exploration area of over 2500 km2 and 23 delineated abnormal areas of mineralization. At present, after exploration of eleven abnormal areas, it is discovered that the iron ore reserves have exceeded 5 billion tons and the expected future reserves will exceed 10 billion tons.

    According to the person in charge of Sierra Leone project of China Qinghua Group, this large-scale iron mine produces open-pit magnetite with an average grade of 33% and shallow oxidized ore of hematite with an average grade of more than 62%. This iron mine provides favorable prospects for large-scale development in virtue of its sound geographical location, traffic, meteorological, water & electricity and development conditions. It is expected that a package of development and planning projects (that are dominated by iron ore development and steel industry and supported by port, road and power) will be progressively constructed in the second half of 2014.
    According to the information published in the official website of the Ministry of Commerce, in 2013, China Kingho Group signed a memorandum of understanding with the Government of Sierra Leone, and the investment projects mainly include railway construction from Magburaka to Sulima and the construction of related ports, highway, parks and supporting power facilities. China Kingho Group hopes that this project can be constructed into a model project through Sino-Africa friendly cooperation in the context of the new era.