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Raw Materials

Cimenfort will invest 75 million in phosphate concession. The project is expected to generate more than 400 jobs

One of the winning companies of the tender that awarded the mining rights to a phosphate concession in the country, Cimenfort Industrial, will invest 75 million dollars in the exploitation of this chemical compound.

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The value was revealed this Friday by the company's project coordinator, David Silva. The responsible, who was speaking during the announcement ceremony of the winners of the competition, also said that in a first phase the mining project should create 80 new direct jobs.

David Silva said, cited by Angop, that in a second phase the company should be able to create around 160 jobs and in the final phase 190 new jobs should be generated. At the end of the project development, a total of 430 jobs should have been created.

This is the first time that Cimenfort Industrial, which specialises in cement manufacturing, has operated a phosphate concession.

The winners of the public tender for mining rights for five diamond, iron and phosphate concessions were announced this Friday.

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