Agreements reached on trans-Guinean infrastructure in milestone for Simandou iron ore project
Rio Tinto and the Simfer1 joint venture (Simfer) reached an important milestone today by concluding key agreements with the Republic of Guinea and Winning Consortium Simandou2 (WCS) on the trans-Guinean infrastructure for the world class Simandou iron ore project.
- Rio Tinto and the Simfer1 joint venture (Simfer) reached an important milestone today by concluding key agreements with the Republic of Guinea and Winning Consortium Simandou2 (WCS) on the trans-Guinean infrastructure for the world class Simandou iron ore project.
- 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 Pilbara and Iron Ore Company of Canada products.”
The infrastructure capacity and associated cost will be shared equally between Simfer, which is developing blocks 3 and 4 of the Simandou project, and WCS, which is developing blocks 1 and 2. - It is also subject to a number of conditions, including the Guinean State’s approval of the final feasibility study for the project.
- Negotiations continue between the partners to finalise the investment agreements and related shareholders’ agreements which underpin the co-development.