A feasibility study for building a production chain at the Dashkesan iron ore deposits complex in Azerbaijan will be conducted after Dashkesan Iron Ore LLC, a subsidiary of CJSC AzerGold, signed an agreement with China's Sinosteel Equipment & Engineering Co Ltd.
AzerGold said in its statement that the parties signed an agreement in Beijing on Friday (11 July) for the preparation of a comprehensive bankable feasibility study in order to ensure commercially effeciancy and sustainble operation of the Dashkesan iron ore deposits.
Dashkesan iron ore deposit is the largest iron ore depositis complex of the region consisitng of six deposits in total.
"Under the contract valued at $2.45 million a document will be prepared within two years, covering the most optimal economic and environmental approaches for mining," AzerGold stated.
The Chinese company was selected following negotiations with several global firms specializing in this field, conducted by Dashkesan Iron Ore LLC since mid-2024.
Sinosteel Equipment & Engineering Co Ltd is a subsidiary of state corporation Sinosteel Group, which specializes in metallurgy and primary industry. The company has wide-ranging experience in the development of iron ore deposits both within China and overseas and has implemented similar industrial projects in Turkey, Australia, South Africa, Algeria and India.
The finalized document will serve as a primary reference for attracting investors and financial institutions to fund the project. It will include detailed information on the economically viable volumes of ore to be produced and processed, recommended technological solutions, and key construction and engineering requirements—paving the way for the full-scale development of the deposit.
In addition to Sinosteel, local contractors will also be involved in preparing specific components of the study.
Since 2020, Dashkesan Iron Ore LLC has carried out extensive geological exploration at the deposit. A reassessment of mineral resources, aligned with international standards, confirmed an increase of 70 million tonnes in ore volume, bringing the total to 187.3 million tonnes.
“It was also decided to establish a three-stage production chain to ensure the economic viability of the deposit,” the press release stated.
“This includes the construction of a Beneficiation Plant to produce iron ore concentrate, a Pellet Plant to process the enriched concentrate, and an HBI Plant to manufacture high-iron-content hot briquetted iron (HBI). Initial design documents have been prepared for these facilities, along with a slurry pipeline to transport the concentrate between them.”
The company reported that, for the first time, it successfully produced iron ore concentrate with up to 69% iron content and HBI with up to 97% metallization in a laboratory setting.
Based on these results, an updated implementation strategy and a roadmap covering both technical and economic aspects of the project were approved.
Russia's Defence Ministry said its forces struck two cargo vessels overnight in the Ukrainian Black Sea port o...
Saudi Arabia has temporarily shut down its 1,200-kilometre East-West oil pipeline after it was hit by a drone attack, with Riyadh and Baghdad sayin...
Dubai’s property market has spent years climbing. Now, for the first time since 2021, prices are moving in the opposite direction. ...
Overnight Iranian strikes on an air base in Jordan damaged multiple U.S. aircraft and left one without a wing, American media reported. Meanwhile, explosions were heard across parts of southern Iran according to local media reports.
Iranian President Masoud Pezeshkian arrived in New Delhi on Friday to attend the weekend BRICS summit, amid the ongoing U.S.-Iran conflict, joining a host of foreign dignitaries.
Ukrainian forces struck a Russian oil refinery in Siberia and a seaport in Dagestan in the past 24 hours, President Volodymyr Zelenskyy said. He will meet Canadian Prime Minister Mark Carney on Thursday to discuss air defences for Ukraine over winter.
A Russian strike on a gas station in Kyiv has killed two people, the city's Mayor Vitali Klitschko said in a statement on Telegram. In Russia, online marketplace Ozon has suspended operations in Saratov, southwestern Russia, following a drone strike on a warehouse in the region.
Twenty-five years after the September 11 attacks drew the U.S. into Afghanistan, the Taliban is seeking a new relationship with Washington built on diplomacy, investment and trade, despite deep divisions between the former enemies.
Volkswagen’s supervisory board has approved a major overhaul aimed at cutting 100,000 jobs by 2030 as the German carmaker battles weaker sales, falling profits and intensifying global competition.
Chinese Premier Li Qiang has called on American companies to expand their presence in China and pledged that Beijing would address their "reasonable concerns," as China looks to stabilise trade ties with Washington ahead of President Xi Jinping's planned visit to the U.S. later this month
Apple is entering a new era as Tim Cook steps down as chief executive after 15 years at the helm, handing the technology giant's leadership to longtime executive John Ternus.
Volkswagen is heading towards a decisive showdown with labour representatives as Germany's largest carmaker weighs sweeping restructuring measures that could lead to factory closures and tens of thousands of job losses.
Online fast-fashion retailer Shein is seeking to raise up to $1.77 billion in a Hong Kong IPO after its valuation fell around 70 per cent from its private-market peak four years ago.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment