DR Congo banks on iron project to inject $679bn in economy
Simandou mine, one of the largest high-grade iron ore deposits, in the Nzerekore Region, Guinea. DRC is seeking to position itself among the world’s leading holders of large, undeveloped iron ore resources.
After more than a century of industrial copper and cobalt mining, the Democratic Republic of Congo has announced a major iron ore project.
The Grande Orientale Iron Ore Project (Mifor), billed as a “national economic architecture project,” aims to structure— for the first time at industrial scale —the development of iron ore resources estimated at 15 to 20 billion tonnes, with an average grade above 60 percent.
