Guinea lawmakers approve JV for Simandou iron-ore development
Guinea’s National Transition Council approved a joint venture between Rio Tinto, China-backed Winning Consortium Simandou and the government that seeks to develop the world’s biggest untapped iron ore reserve.
The council, which is the equivalent of a parliament body in the West African nation, said it voted and gave the green light to plans that include constructing a mine, rail line and port in Simandou by December 2025, said Mory Dounoh, a spokesperson for the council.
First production is expected in 2026 and the goal is also to build a steel factory and pellet plant in the 2030s.
The Simandou project in Guinea has some of the richest iron ore deposits, but its development has been stymied for years by disputes over ownership and infrastructure, and by political changes in Guinea. The deposit is divided into four blocks owned separately by Winning Consortium, Rio and Aluminum Corp. of China, known as Chinalco
Rio and Winning will be subject to financial penalties if they fail to meet construction deadlines approved as part of the JV agreement, Dounoh said.
“Guinea reserves the right to cancel without any compensation mining permits and infrastructure agreements relating to port and rail line works one year from the start of the application of penalties,” he added.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation