China Co-Signs $3 Billion Tanzania Coal, Iron Deal

Reuters reported China’s Sichuan Hongda Co. Ltd.(SHA:600331)  has signed a $3 billion deal with Tanzania to mine coal and iron ore.

The market news is quoted as saying,

Dubbed the single-biggest investment deal in east Africa, Sichuan Hongda will own 80 percent of the joint venture project, with the remaining stake held by Tanzania’s state-run National Development Corporation (NDC).

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