Simandou iron project with a green light

Simandou iron project

The agreement between Rio Tinto, Guinea authorities, and Winning Consortium Simandou was signed last Saturday. Simandou is considered to be the largest, highest-grade iron deposit in the world. The various impacts related to the political upheaval or ownership resulted in prolonged negotiation.

Mory Dounoh the chief of Guinea’s National Transition Council has indicated that the end of construction is expected by the end of 2024.

The Simandou is a part of the Simfer joint venture which is a sign between Rio Tinto, Chalco Iron Ore Holdings, and the Guinea government. Rio Tinto which holds 53% shares owns two of four mining blocks. The two other mining blocks are owned by the Winning Consortium Simandou (Winning International Group, Weiqiao Aluminium, and United Mining Suppliers).