According to information released by the government of the Democratic Republic of Congo, the country is seeking to expand its mining base by launching a major iron ore development project along with supporting logistics infrastructure.
Based on official minutes released by the Prime Minister's Office, Mining Minister Louis Watum told the Council of Ministers that the government has launched a new Mines de Fer de la Grande Orientale (MIFOR) project aimed at developing high-grade iron ore deposits in the country's remote northern region.
The mines minister estimates the deposit contains about 20 billion tons of iron ore with an average grade of 60 percent. The project is designed to reduce the country's long-standing dependence on copper and cobalt mining. Initial production capacity is planned at about 50 million tons per year, with a potential expansion to 300 million tons per year, the minister said.
According to the presentation, the first phase will require an investment of about $28.9 billion, mainly in heavy rail infrastructure and river transport connecting the mine to the deep-water port of Banana on the Atlantic coast via the Congo River.
The government has said the project has already attracted interest. from institutional investors and approved the creation of a special interdepartmental commission to coordinate its development.
However, local media report that
