Rio Tinto’s Guinea subsidiary has formed an infrastructure joint venture with Winning Consortium Simandou (WCS) and the Guinean government to further progress on the undeveloped Simandou iron ore project in Nzérékoré.
“The incorporation of La Compagnie du TransGuinéen with our partners underscores the importance of the Simandou resource in today’s decarbonizing world, and its development will complement Rio Tinto’s strong iron ore portfolio,” said Bold Baatar, Rio Tinto executive committee member in charge of the Simandou project and Copper chief executive.
Rio Tinto said the milestone paves the way to progress the shareholder agreement, and secure necessary financing to construct a strategic corridor with more than 600 kilometers of rail infrastructures extending from south to south-west of the Republic of Guinea, as well as port infrastructure in the Forécariah prefecture in Maritime Guinea.
WCS and Rio Tinto Simfer, the holders of blocks 1-2 and 3-4, respectively, said they are fully engaged with all stakeholders at national and local level to transform the iron ore potential of the Simandou mountain range into a sustainable source of wealth for the people of Guinea.
Source: Rio Tinto