Tonkolili 'doubles size of Sierra Leone project'

18 February 2010

Sierra Leone is to become one of the biggest magnetite iron-ore resources in the world.

This is following an announcement from African Minerals that it has doubled the size of its Tonkolili project in the country.

It revealed yesterday (February 17th) that some 10.5 billion tonnes would now be present on the site.

Chief executive officer Alan Watling said this makes Tonkolili the biggest of its kind that is compliant with Australia's Joint Ore Reserves Committee.

He also noted that the site could produce high quality substances with "very high grades and low levels of impurities", miningweekly.com reported.

Earlier this month African Minerals agreed the construction of the main points of infrastructure for the project, at a cost of £80 million.

There may also be a long term iron-ore off take agreement between the company and China Railway Materials Commercial Corporation, since talks are said to be "progressing well".

According to African Minerals, a Memorandum of Understanding has been signed between the firm and the Sierra Leone government with regard to the railway and power infrastructure requirements at Tonkolili.