Rio Tinto reported in mid-May that the Simfer joint venture has submitted mine and infrastructure bankable feasibility studies for the Simandou South iron ore project to the government of Guinea. The project is based on one of the world’s largest untapped, high-grade iron ore resources, totaling more than 2 billion mt.
Simfer is a joint-venture company ultimately owned by the government of Guinea (7.5%); Rio Tinto (46.6%); Chalco Iron Ore Holdings, a consortium of Chinese state-owned enterprises led by Aluminium Corp. of China (41.3%); and the International Finance Corp. (4.6%).
Rio Tinto stated that the studies include details for the development of both a world-class iron ore mine and a multi-user and multi-usage infrastructure project based on work carried out over the past two years by Simfer, China Harbour Engineering Co., China Railway Construction Corp., and other international mining and construction contractors. However, the Rio Tinto press release did not include any of the project details.