https://www.miningweekly.com

Guinea to sign agreement for Simandou project

21st May 2014

By: Reuters

  

Font size: - +

KIGALI – Guinea will sign an investment framework agreement for its multi-billion dollar Simandou iron-ore project with partners Rio Tinto, International Finance Corporation (IFC) and China's Chinalco on May 26, the country's Mines Minister said on Wednesday.

Yansane Kerfalla said the West African country was on track to conclude negotiations with its partners on the giant Simandou project.

"Actually we are signing on May 26 the investment framework with Rio Tinto, IFC and Chinalco from China," Kerfalla told Reuters on the sidelines of the African Development Bank's annual meeting in the Rwandan capital.

The investment framework agreement will enable funding for costly infrastructure on the southern half of the Simandou mine that is estimated to cost up to $20-billion or more.

The project includes the constructing almost 700 km  of rail, 35 bridges and a four-berth wharf 11 km offshore.

Kerfalla said Guinea was also preparing the tender process for the northern half of Simandou after the government cancelled a previous mining concession held by BSG Resources and its joint venture partner Vale.

Edited by Reuters

Comments

Showroom

Goodwin Submersible Pumps Africa (Pty) Ltd
Goodwin Submersible Pumps Africa (Pty) Ltd

Goodwin Submersible Pumps Africa is sole distributors for Goodwin electrically driven, submersible, abrasion resistance slurry pumps.

VISIT SHOWROOM 
AutoX
AutoX

We are dedicated to business excellence and innovation.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.118 0.163s - 101pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: