(News Bulletin 247) – Rio Tinto and the Simfer joint venture today reached an important milestone by concluding key agreements with the Republic of Guinea and the Simandou Consortium (WCS) relating to the trans-Guinean infrastructure dedicated to a project world-class iron ore’.
The co-development convention with the Republic of Guinea and the associated agreements adjusting the existing mining conventions of Simfer and WCS create the legal framework for the co-development of more than 600 kilometers of new multipurpose railways as well as port facilities, which will be used to export iron ore from the Simandou mining concessions in the southeast of the country.
Infrastructure capacity and associated costs will be shared equally between Simfer, which is developing Blocks 3 and 4 of the Simandou Project, and WCS, which is developing Blocks 1 and 2.
China Baowu Steel Group has also previously entered into an agreement with WCS which could see it partner with the WCS perimeter for blocks 1 and 2 of the Simandou mining concession and the infrastructure joint venture.
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