Simandou Deal Marks Breakthrough for World’s Largest Untapped Iron Ore Deposit

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Abstract

Following eight years of wrangling, British-Australian miner Rio Tinto has announced a US$20 billion deal to develop the Simandou iron ore project. The breakthrough after a series of investment disputes, delays in reviewing the Mining Code and challenges over project-linked infrastructure will provide a major new impetus in Guinea’s mining sector. The scale of the project is also breathtaking. Simandou involves exploiting what is thought to be the world’s biggest untapped deposit of iron ore and creating Africa’s largest integrated infrastructure project. When fully operational, its annual economic contributions could double Guinea’s current GDP.
Original languageEnglish
Specialist publicationThis is Africa (Financial Times)
Publication statusPublished - 11 Jun 2014

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