Algeria, China negotiate to establish mining consortium
Source: www.chinamining.org Citation: Xinhua Date: March 1, 2016
Algeria on Sunday revealed the existence of negotiations with China to establish a partnership to exploit one of the largest mining deposits in the North African nation.
"We are negotiating with Chinese partners to establish a consortium to exploit Gara Djebilet deposit in the province of Tindouf," Algerian Industry and Mines Minister Abdesselam Bouchouareb told reporters after meeting with CEO of China Civil Engineering Construction Corporation (CCECC) Yuan Li.
According to Bouchoureb, this is the first time negotiations on Gara Djebilet project are held, and the economic feasibility and technical studies of this mining site have already been done.
Transport Minister Boudjemaa Talai also held talks with Yuan and they agreed to construct a 950 km railway line linking Gara Djebilet site to Abadla in the province of Bechar, APS news agency said.
Gara Djebilet is one of the largest mines in the world with 3.5 billion tons of iron.
Algeria is seeking through the exploitation of this mine to curb iron and steel import bill which hit 10 billion dollars last year.
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