PHOTO
Algeria is planning to invite global bids for one of the largest iron mines in the world as part of a strategy to develop its metal industry for export and local consumption, an Algerian official was quoted on Thursday as saying.
Tenders will be issued by the National Steel Corporation in Septmber to tap the Gara Djebilet mine, which is located in Tindouf Province in western Algeria, the Corporation Director General Ahmed bin Abbas said, quoted by the Arabic language daily Elkhabar.
“We intend to launch an open international tender in September for investment in Gara Djebilet mine…the tender will allow us to select partners wishing to invest in this strategic project,” Abbas said.
He said the project would largely boost Algeria’s iron production and supply local factories with sufficient feedstock.
Abbas provided no other project details but official said recently that the mine, which was commissioned in July has estimated iron reserves of nearly 3.5 billion tonnes, of which 1.7 billion tonnes are exploitable.
(Writing by Nadim Kawach; Editing by Anoop Menon)
