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    Rio Tinto plans to start construction of Simandou iron ore project in 2024

    sxcoal.com Company,  International,  Iron Ore 2024-01-10 08:49:54

    Rio Tinto plans to carry out the infrastructure construction of the massive Simandou iron ore project in Guinea in 2024 after nearly 30 years of setbacks.

     

    The project is anticipated to be the world's largest new iron ore mine with highest grade, with production capacity reaching 60 million tons per annum by 2028. It will increase global seaborne supply by approximately 5% after operation.

     

    The first batch of iron ore shipment is planned to start in 2025, the company said.

     

    The Simandou iron ore project is a joint venture between Rio Tinto, the Guinean government and at least seven other companies, five of which are from China. About $11.6 billion in initial funding is required for the development of the project, according to Rio Tinto in December 2023.

     

    The project boasts two iron ore mines, a 400-mile railway system and a strategic port off the coast of Guinea's capital Conakry.

     

    (Writing by yan.sun  Editing by Harry Huo)
    For any questions, please contact us by inquiry@fwenergy.com or +86-351-7219322.

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