Who owns Simandou?
Rio Tinto has held rights to Simandou since 1997. It owns a 45.05% stake in the southern half, Blocks 3 and 4, of the deposit, with Chinalco holding 39.95% and Guinea’s government the remaining 15%. SMB-Winning won a government tender in November 2019 for Blocks 1 and 2.
Where is Simandou located?
southeastern Guinea
Simandou is a 110-kilometre-long (68 mi) range of hills located in the Nzérékoré and Kankan regions of southeastern Guinea, in the country’s mountainous, forested Guinée Forestière region. At the southern end of the range the site of a large iron ore deposit is currently being developed.
Is Rio Tinto in Guinea?
Rio Tinto Group’s board has signaled its support to develop the Simandou iron ore project in Guinea, the world’s biggest untapped resource of the key steelmaking ingredient.
Where is Rio Tinto Simandou?
eastern Guinea
The mine is located in the Simandou mountain range in south-eastern Guinea. Its commercial production is expected to start by 31 March 2025, as per the country’s Mines Minister Moussa Magassouba.
Who is the richest man in Guinea?
Mamadou Sylla (born 25 January 1960) is a Guinean politician and business leader. Born in Boké, in 1986 Sylla was one of several people given large amounts of rice by the Government to retail. Becoming wealthy, he moved to Conakry and became a senior judge.
Where is the Simandou project located?
The Simandou iron ore project is located in eastern Guinea, approximately 600km from the Guinean coast and 400km from the Liberian coast. Image courtesy of Rio Tinto.
Who owns the Simandou iron ore project?
The Guinean government owns the right to acquire up to 35% stake in the project and a 51% stake in the rail and port infrastructure. The iron ore body of Simandou is located in the southern part of the Simandou Mountain in south-eastern Guinea.
What is the winning consortium Simandou project?
This project is being developed by Rio Tinto’s Guinea subsidiary Simfer and the Chinese-supported consortium Winning Consortium Simandou (WCS). The order from Magassouba came into effect on 4 July 2022.
Will the south Simandou railway be developed?
It is anticipated that the South Simandou project partners might come together with the SMB-Winning Consortium to jointly develop the railway. An updated appraisal of the Simandou North iron ore deposits will, however, be required before any such deal can be finalised.