Guinea Approves Joint Development Deal for Simandou Iron Ore Project
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CONAKRY: Lawmakers in Guinea approved on Saturday a joint development deal for its giant Simandou iron ore project involving the junta-led government, Rio Tinto and Winning Consortium Simandou, the lawmaking body’s spokesperson said.
Simandou, set to be the world’s largest and highest grade new iron ore mine, has been the subject of prolonged negotiations due to its complex ownership structure, delays caused by legal wrangling, Guinea’s political upheaval and difficulties around construction.
The two other mining blocks are being developed by Winning Consortium Simandou (WCS), made up of Singapore-based Winning International Group, Weiqiao Aluminium – part of the China Hongqiao Group 1378.HK – and United Mining Suppliers.
-Saliou Samb
