Saudi Arabia to invest in mining assets

State-owned Saudi Arabian Mining Co. (Ma’aden) has agreed to form a joint venture with the kingdom’s sovereign wealth fund to invest in mining assets globally, reported Reuters. Ma’aden will own 51% in the venture while the Public Investment Fund will own 49%, the company said in a regulatory filing. The miner said the new venture’s strategy “will initially be to…

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Metso Outotec uncovers Optimus Sinter

Metso Outotec is launching Optimus Sinter, a digital optimizer for iron ore sintering plants. The new tool facilitates improved sinter plant process performance and stability by holistically optimizing the overall sintering processes. Optimus Sinter is one of Metso Outotec’s leading-edge digital solutions to ensure the optimal operation and maintenance of iron ore sintering plants. A sophisticated thermodynamic model forms the…

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Rio Tinto Simfer creates JV for Simandou project

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…

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Sundance Resources files claim in Mbalam-Nabeba dispute

Australian miner Sundance Resources has filed a Memorial of Claim with the International Chamber of Commerce against the Republic of Congo as part of an ongoing iron ore dispute. Sundance is seeking $8.8 billion in damages over the Mbalam-Nabeba iron ore project, which spans the border between Congo and Cameroon. The company has yet to begin mining due to legal…

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