Rio Tinto to restart Simandou iron ore project
2019-06-26 17:53:33 [Print]
Rio Tinto plans to restart Simandou iron ore project.
Rio Tinto is working on a new development plan to determine whether mining the mine is commercially viable. Since the second half of 2018, it has taken such measures as:
Appoint Mr. Nigel Jones, British, as the General Manager of Rio Tinto Group's Simandou Iron Ore Project in Guinea.
Invite the Minister of Geology and Mines of Guinea, Magassouba, to Paris, France on several occasions. The two sides held working talks in Paris to study and discuss new plans for the development of Simandou iron ore.
Hire a professional consulting company to work with Rio Tinto's own team to study and demonstrate the commercial development model of Simandou iron ore, assess the business prospects and risks, and revise, adjust and optimize the original and old development plans in order to formulate new development plans.
Simandou owns the most abundant and highest-quality undeveloped iron ore in the world. The proven reserves of it are more than 2 billion tons which are high grade iron ore. Guinea will leap to become one of the largest exporters of iron ore in the world if Simandou is mined substantially.
The team will focus on how to transport and export iron ore from Guinea in the future.
The government of guinea insists that iron ore from Simandou must be exported through its own ports in Guinea in the future, which means the project will need to build a new railway line of more than 650 kilometers to transport iron ore from Simandou to the deep-sea port of Morebaya in Farmoreya, The total investment required for the new railway line and Morebaya port is expected to exceed USD20 billion.
According to Rio Tinto's plan, it will mine and export 100 million tons of iron ore annually after Simandou iron ore reaches full production, which will enable Rio Tinto to surpass Vales and become the world's largest iron ore supplier.
Rio Tinto is working on a new development plan to determine whether mining the mine is commercially viable. Since the second half of 2018, it has taken such measures as:
Appoint Mr. Nigel Jones, British, as the General Manager of Rio Tinto Group's Simandou Iron Ore Project in Guinea.
Invite the Minister of Geology and Mines of Guinea, Magassouba, to Paris, France on several occasions. The two sides held working talks in Paris to study and discuss new plans for the development of Simandou iron ore.
Hire a professional consulting company to work with Rio Tinto's own team to study and demonstrate the commercial development model of Simandou iron ore, assess the business prospects and risks, and revise, adjust and optimize the original and old development plans in order to formulate new development plans.
Simandou owns the most abundant and highest-quality undeveloped iron ore in the world. The proven reserves of it are more than 2 billion tons which are high grade iron ore. Guinea will leap to become one of the largest exporters of iron ore in the world if Simandou is mined substantially.
The team will focus on how to transport and export iron ore from Guinea in the future.
The government of guinea insists that iron ore from Simandou must be exported through its own ports in Guinea in the future, which means the project will need to build a new railway line of more than 650 kilometers to transport iron ore from Simandou to the deep-sea port of Morebaya in Farmoreya, The total investment required for the new railway line and Morebaya port is expected to exceed USD20 billion.
According to Rio Tinto's plan, it will mine and export 100 million tons of iron ore annually after Simandou iron ore reaches full production, which will enable Rio Tinto to surpass Vales and become the world's largest iron ore supplier.
