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Mar 05, 2020 Currently Libya's metallics mining industry is largely underdeveloped, although tests on samples and reserves are being undertaken by the country's industrial research institution, Al-Issawi said. "The Russians and the Italians may be interested," he said, noting that foreign investors may own up to 100% of mining ventures. Iron and Steel.—According to the World Steel Association (WSA), Libya produced 1.57 million metric tons (Mt) of DRI, including hot-briquetted iron, compared with 1.66 Mt in 2007. WSA also reported that Libya’s crude steel production was 1.14 Mt in 2008 compared with 1.25 Mt in 2007 (World Steel Association, 2009). Nov 11, 2019 Iron. Libya has huge iron ore deposits in Wadi ash Shati which is near Sabha in Fezzan. The deposit occupies an area of 1,544 square miles and holds up to 5 billion metric tons of different types of iron, which include 900 million metric tons at Tharot lens, 750 million metric tons at Arrwisa lens and 500 million metric tons of Ashkeda lens. Political instability in Libya in the 1980s caused many US companies to divest their operations in the country. Restarting iron ore production will help the country’s economy, which depends mainly on iron projects, and represent a possible 7.5% economic growth, the International Monetary Fund said.
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