Next level of Simandou iron ore project

Not longer a dream

The Guinea government informed us that Simoanou is closer to realization. According to Djiba Sanfina DIAKITE “Simandou is no longer a dream but a reality”. He added, “There is no doubt that the project will be delivered on schedule by the end of December 2025.”

$15 billion investment

This statement was after the Guinea government’s announcement that all stakeholders had signed financial agreements for ca. $15 billion for the Simandou iron ore project.

Based on the financial agreement the rail and harbor infrastructure will be built. The investment will be developed by Compagnie du TransGuineen (joint venture of Guinea government – 15%, Rio Tinto with Chineas investors – 42.5%, and China-backed Simandou).

Previously this year Jakob Stausholm said that the board of directors has permitted the project. It is estimated that Rio Tinto will invest $6.2 billion in Simandou.

Big influence on the iron supply chain

Simandou iron ore project is considered to be the world’s largest and highest-grade new iron ore mine. The mine will provide an additional 5% to the global seaborne supply when it is built.