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Home Steel News Tanzania partners with Chinese Hexingwang for iron ore project in Njombe Region
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Tanzania partners with Chinese Hexingwang for iron ore project in Njombe Region

9 Aug 2024 16:35 reported by Stanley Wang

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Tanzania's National Development Corporation (NDC) entered into an agreement with China's Fujian Hexingwang Industrial Co. Ltd to develop the Maganga Matitu iron ore project in the Njombe Region. Valued at US$77.4 million, the project aims to produce sponge iron, a key raw material for the steel industry.

The Maganga Matitu project spans 19.63 square kilometers and is a component of the larger Liganga iron ore project in Ludewa District. The initiative is expected to generate employment opportunities and supply the iron needed for the government's extensive infrastructure projects, marking it as a vital contributor to Tanzania's economic advancement.

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