Guinea gives RioTinto, WCS consortium ultimatum on Simandou IronOre project via CeciliaJamasmie
to “co-develop” infrastructure surrounding the project, including a 670-kilometre railway and a port.The junta gave the companies in June 14 days to agree to the joint venture, which was an extension of a previous deadline.the miners risked losing their licences if they failed to meet a tight construction timeline for the project.
At full production, the mine is expected to export up to 100 million tonnes per year. Simandou would by itself be the world’s fifth-largest producer behind Fortescue Metals , Vale and BHP . that Guinea’s decision to suspend all activities at Simandou reflected mostly the “power struggle” between the companies and Guinean authorities regarding recommendations they made in December in relation to the rail and port infrastructure.
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