Rio Tinto expects to start infrastructure work on the Simoandou Iron Project in 2024

Final approval

Rio Tinto is going to start infrastructure work on the Simoandou Iron Project in 2024. The company secured an exploration license for the project in 1997. The Simoandou Project is a partnership between Rio Tinto, the Guinean government, and at least seven other companies including five from China. In 2024 it is expected that state-owned Chinese companies will receive the final approval from Beijing. After the approval is granted Rio Tinto is going to launch the project.

Biggest and most complex

The project is expected to be the biggest and most complicated in Rio Tinto’s history. Bold Baatar has stated: “There is nothing else out there of this scale and size.

In this project, Rio Tinto is going to build one iron mine in partnership with a consortium led by Minera Chinalco Perú S.A. (Simfer project). A second mine will be built by a consortium led by Winning International Group with Baowu Group (WCS project).

Crucial role

Baatar has also indicated that exploited iron from the Simoandou project has the potential to play a crucial role in the decarbonization of the Chinese steel industry: “A part of the ore body that we’re looking at is very suitable, we think, for direct reduction iron. He has added that “The only way the steelmaking industry globally decarbonizes is if China decarbonizes.”

It is expected that the annual production from the project will achieve in 2028 a value of ca. 60 million tonnes per year.

Source of Featured image in the title: Official webpage of Rio Tinto about Simoandou Iron Project.