Rio Tinto to resume construction work at Simandou iron ore project after one year

The Guinean government, Rio Tinto, and other partners has commenced infrastructure construction to reopen their Simandou iron ore mine.

The 15 billion dollar project, which includes a port and railway, came to an end over a year. After operations were halt.

The Guinean govt issued a stop-work order for the project in July 2022 to compel the stockholders to accept joint venture (JV) arrangements.

A contract for the La CTG joint venture was sign by all stakeholders in March 2022. Guaranteeing the govt 15 percent of the Simandou iron ore as well as a 15 percent free & non stake in the railway and port facilities.

Aluminum Company of China (Chinalco) owns 75 percent of CIOH, while Baowu owns 20 percent. China Harbour Engineering Company and China Rail Construction Corporation each own a 2.5 percent share.