The Algerian National Iron and Steel Company (Feraal) and the Chinese group CMH have signed an agreement to jointly develop the Gara Djebilet iron ore deposit in West Algeria. It was stated that the iron ore deposit in question contains 2 billion tons of ore with an iron content of approximately 58 percent.
Within the framework of the signed agreement, Feraal and CMH will form two joint ventures.The first is the extraction of raw materials; the second will be the establishment of a steel plant to melt salable slab from Gara Djebilet ore.
According to Mohamed Harami, CEO of Manadjim El Djazair group responsible for the project, Algeria imported 1.2 billion dollars worth of iron ore in 2022. With this project, imports will increase even more.
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