The Kribi-Lobé iron ore mining project, carried out by SINOSTEEL CAM S.A under the mining licence No. 154 by decree No. 2022/273 of 1 July 2022 for the industrial mining of the Lobe iron ore deposit in the Southern region. This project has actually and technically started on the 16 of November 2023 and is based on reserves estimated at around 632.82 million tonnes of magnetite with an average iron content of 33%. The first iron exports by SINOSTEEL CAM S.A are expected for mid-2025 with a yearly production target of 10 million tonnes of 33% iron, giving 4 million tonnes of iron concentrated at over 60%. The project, 60% of whose equipment is already in Cameroon, will create more than 600 direct jobs and 1,000 indirect jobs.