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JV to build railway, port for Simandou iron ore project. Guinea government to get free 15% stake in JV. JV partners to meet Thursday to finalise deal - source. Workers to remain on forced leave ...
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Releases. 2022. Government of Guinea, Winning Consortium Simandou and Rio Tinto Simfer incorporate La Compagnie du TransGuinéen (CTG) to co-develop the rail and port infrastructure for the …
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Simandou is one of the world'srichest reserves of high-grade iron ore, with an estimated 2 billion tonnes. Beijing needs high grades, which reduce pollution from processing. "The Simandou...
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Simandou in Guinea is home to the world's richest untapped deposits of iron ore but legal wrangling, alleged corruption and the difficulty of access to the mountain region mean it has yet to be ...
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At two billion tonnes of iron ore with some of the highest grades in the industry, Simandou is one of the world's biggest and richest reserves of the steelmaking material, but it has a ...
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At 60 million to 80 million tonnes a year compared to the near billion tonne annual exports of the Australian iron ore behemoth, Simandou is a filler rather than a killer for Australia's market ...
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LONDON (Reuters) - Rio Tinto has been solely funding preparatory work at the blocks it holds at Simandou, one of the world's largest untapped iron ore deposits, as its Chinese partners are yet to ...
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Simandou is expected to produce ore with about 65 per cent iron, whereas the benchmark Pilbara product contains 62 per cent iron and Australia's miners are exporting increasing volumes of ore ...
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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. The Simandou iron ore mine is located in southeast Guinea, Africa. First production from the mine is expected in 2015.
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Through Simfer, Rio Tinto held rights to Simandou blocks 3 and 4 since 1997. Simfer is 15% owned by the Guinean Government and 85% by Simfer Jersey, which is a JV between Rio (53%) and Chalco Iron Ore Holdings (CIOH) (47%). Baowu owns a 20% stake in CIOH while Aluminum Corporation of China (Chinalco) owns a 75% stake.
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In July 2022, the Guinean Government ordered work to stop at the project to force the shareholders to agree on joint venture (JV) terms. Rio's Guinea unit formed a JV with Winning Consortium Simandou (WCS) and the Guinean Government to develop the rail and port to transport high-grade iron ore from the mine to market.. WCS is a …
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From 2009 to 2011, Steven Din headed the operations of the giant Rio Tinto mining group at the Simandou iron ore project, which covers the biggest unexploited iron ore deposit in the world. Now, he is to take charge of another Guinean iron ore permit. Din, who has also worked in bauxite mining in Guinea, iron ore mining in Zimbabwe, copper …
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Simandou offers a potentially huge new source of supply for Rio, the world's largest iron ore producer, while China sees the project as key to easing its steel industry's dependence on...
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Guinean authorities and shareholders have agreed on the terms of a joint venture to mine Simandou, one of the world's largest deposits of iron ore, paving the way for work to resume this month ...
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The two consortia involved in the Simandou iron ore project seem to be reluctant to pledge the $500m sought by the construction …
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TIMELINE: The battle for Simandou. Simandou deposit, Guinea. ( Image courtesy of Rio Tinto.) Simandou in Guinea is home to the world's richest untapped deposits of iron ore but legal wrangling ...
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Rio Tinto's Chief Executive of Iron Ore Simon Trott said, "Our relationship with China Baowu in Western Australia has been a proud and successful one, extending back more than 40 years. We look forward to progressing this study into the potential of low-carbon iron making in Western Australia as we work to ensure a positive future for ...
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Rio effectively owns 45 per cent of a consortium that owns two iron ore tenements at Simandou, while another two Simandou tenements are owned by the rival "SMB Winning" consortium that is ...
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Simandou Nzérékoré, Guinea. Simandou contains one of the world's largest and richest high-grade iron ore deposits, demand for which is increasing as steelmakers look to reduce carbon emissions. Simandou is set to diversify our strong iron ore portfolio, complementing our high-grade Iron Ore Company of Canada products and supporting the ...
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Report summary. The Simandou deposit is one of the largest undeveloped high grade deposits in the world. When brought online it would be one of the lowest operating cost mines supplying the seaborne market and account for just under 10% of the total seaborne export production. In November 2019, the Government of Guinea …
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The Simandou mine, located in Guinea's southern Nzérékoré Region, contains an estimated 2.25bn tonnes of high-grade iron ore, making it one of the largest deposits of its kind in the world. Analysts have long believed the mine could produce 150 million tonnes of the key steel ingredient per year, doubling Guinea's GDP and creating ...
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But the selection of smaller and cheaper infrastructure will limit export volumes, with CLSA saying the Simandou rail and port could carry close to 60 million tonnes per year of iron ore by 2030 ...
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LONDON (Reuters) - Rio Tinto has been solely funding preparatory work at the blocks it holds at Simandou, one of the world's largest untapped iron ore deposits, …
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The Simandou Project is a world-scale mining project comprising: the Simandou Mine, an open pit iron ore mine in the Simandou Range in southeastern Guinea, approximately 600 km south east from the Guinean coast and 400 km north east from the Liberian coast, with an anticipated peak production of around 95 million tonnes per annum (mtpa);
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Simandou offers a potentially huge new source of supply for Rio, the world's largest iron ore producer, while China sees the project as key to easing its steel industry's dependence on ...
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The Simandou iron ore deposit located in the Simandou mountain range in south-eastern Guinea is believed to be the world's biggest untapped high-grade iron ore deposit. It is also one of the most easily extractable iron …
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Simandou, the world's largest known undeveloped supply of high-grade, low-impurity iron ore, will strengthen Rio Tinto's portfolio by complementing our existing …
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At two billion tonnes in iron ore reserves and some of the highest grades in the industry (66% – 68% Fe, which attracts premium pricing), Simandou is one of the most easily exploitable iron ore ...
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5 Jul 2022. Guinea's mines minister has ordered all work related to the Simandou iron ore mine project to be halted after the two companies involved missed an extended deadline to agree on a ...
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By City A.M - Oct 08, 2023, 12:00 PM CDT. Rio Tinto has invested significantly in the Simandou project, with the aim to exploit the world's largest untapped supply of high-grade iron ore, despite ...
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