THE CONGOLESE GOVERNMENT AND THE TURKISH COMPANY ULSAN MINING CONGO SIGN AN IRON MINING AGREEMENT IN MAYOKO
12 aoû, 2024
On Monday, August 12, 2024, in Brazzaville, the Congolese government, represented by the Minister of State, Minister of Mining Industries and Geology, Mr. Pierre OBA, and his colleagues in charge of the economy and finance, Mr. Jean-Baptiste ONDAYE, and of transport, civil aviation and the merchant navy, Mr. Honoré SAYI, and the Turkish company Ulsan Mining Congo, represented by its general administrator, Mr. Fatish GULSAN, signed a mining agreement in the district of Mayoko, in the department of Niari.
Indeed, the company Ulsan Mining Congo has obtained from the Congolese State an exploitation permit for this deposit for a period of 25 years. This exploitation concerns the iron deposit called Mayoko-Moussondji. This is a world-class iron mine, which the Republic of Congo has.
According to experts, the feasibility of the project, that is to say, the exploitability of the mine on the technical level, and the profitability on the economic level, constitute major assets for the diversification of the Congolese economy.
The reserves of the Mayoko-Moussondji iron deposit are estimated at 383 million 800,000 tonnes, for an average iron content of 34.46%, including 22.1 million tonnes classified as colluvial hematite (DSO; directly transportable ore).
The projected production of this deposit is 1 million tons per year for phase 1, and 3 million tons of concentrate for phase 2.
To date, the investment already made on the site by the company Ulsan Mining Congo is 125 million US dollars.
The overall projected investment of this project is estimated at 15 billion dollars. Because it includes the actual exploitation works of the mine; the railway; and the mineral port in Pointe-Noire. The direct and indirect job offer fluctuates between 800 and 1,000 agents.
As a reminder, Ulsan Mining Congo is a single-member public limited company under Congolese law. Its capital is 20,000,000 CFA francs. Its tax residence is located in Pointe-Noire, the economic capital of the Republic of Congo.
The Communication Unit of the Ministry of Economy and Finance
