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Socrates Vasiliades |avima Iron Ore
Avima is one of the largest Premium Quality world class iron ore deposits in Africa” said Socrates Vasiliades the executive chairman.
Avima is a free dig, low strip ratio mining operation that produces 65% fe fines and lump with low impurities. Avima being a world class high grade iron ore deposit means they are lowest cost quartile which is an enviable position to be in.
Avima is significant, as high-grade iron-ore is continuous over a 40 km strike, with up to 90 million-ton-a-year mine life estimated.
It is located in the North West Republic of Congo and borders Gabon to the West and is 50 kilometers South of the Cameroon border. The deposit is among the highest-quality and lowest-cost projects in Africa.
Iron ore shall be trucked 550 kilometers to Kribi port and loaded on cape size vessels. “The larger vessels such as cape size generally means freight rates will be competitive.” Socrates Vasiliades said.
In recent years newly built roads and extensive refurbishment of existing roads have taken place in both Republic of Congo and Cameroon. This has allowed Avima to utilize the new road network and haul the iron ore to the port by road train competitively.
Avima is planning to ramp production up to 90 million tonnes per year. This will require a new railway system in the country and expansion of the port facilities at Kribi. The roll out is intended over the next 3 to 4 years. “We are reasonably advanced in our phase 2 production plans”.
Both Republic of Congo and Cameroon are stable environments and both are committed to expanding their natural resources and infrastructure. Avima’s operations are of strategic benefit for both Republic of Congo and Cameroon.The company enjoys strong political support from both countries. The development of Avima is integral to that of the Central Africa region, as Avima will contribute significantly to the national economies both countries.
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