Beijing’s attempts to pivot their iron ore supply chains away from Australia to Africa appear to be taking shape with the signing of a major deal that will likely grant a Chinese-linked mining firm AustSino access to the massive Mbalam-Nabeba Iron Ore project. The deal comes seven months after Australian and British mining firms were suddenly stripped of their mining licenses for the same project under allegedly “unlawful and arbitrary” circumstances. Mbalam-Nabeba, which straddles the countries of Cameroon and the Republic of Congo, promises to deliver 100 million tonnes of iron ore per annum. The memorandum of understanding (MOU) signed between three entities, including AustSino—who was recently delisted from the Australian stock exchange—Bestway Finance, and the Cameroon government will place the Chinese-linked firm in pole position for construction of rail and port infrastructure connecting the mine to the seaside town of Kribi, according to a statement (pdf) on June 26. …
Chinese-Linked Miner in Pole Position for African Iron Ore Project
July 1, 2021
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AfricaAustraliaaustralian iron oreBusiness & EconomyCameroonChinaChina-Australia RelationsEquatorialInternationaliron oreRepublic of CongoSundanceUKWorld
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