https://www.miningweekly.com

Guinea, partners get $15bn funds for top iron-ore deposit

9th April 2024

By: Bloomberg

  

Font size: - +

Guinea said shareholders involved in Simandou, the biggest untapped iron-ore reserve globally, have signed $15-billion in financing agreements for the project.

The accords provide funds for rail and port infrastructure that Compagnie du Trans-Guinéen — a joint venture that’s 15% owned by Guinea’s government, and 42.5% equally held by a Rio Tinto Plc grouping with Chinese investors and China-backed Winning Consortium Simandou — will build.

The signing occurred on April 2 after approvals came from the country’s transitional parliament and Chinese regulators, Guinea’s presidency said in a statement on X.

“Simandou is no longer a dream but a reality,” Djiba Diakite, head of the strategic committee which led the talks, said in the statement. “There is no doubt that the project will be delivered on schedule by the end of December 2025.”
 

Edited by Bloomberg

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Latest Multimedia

Photo of Martin Creamer
On-The-Air (31/07/2026)
Updated 1 hour 59 minutes ago By: Martin Creamer

Showroom

Advanced Fire Suppression Technologies
Advanced Fire Suppression Technologies

Established on 1 March, 2000, by Barries Barnard, Advanced Fire Suppression Technologies (AFST) and the Advanced Group stands as Sub-Saharan...

VISIT SHOWROOM 
Flanders Electrical SA
Flanders Electrical SA

FLANDERS Southern Africa provides integrated solutions for mining and industrial operations, covering field services, automation, electrification,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 31 July 2026
Magazine round up | 31 July 2026
31st July 2026

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:0.046 0.075s - 114pq - 2rq
Subscribe Now