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Simandou South Data

Simandou South Information

  • General 2015-05-10
    The project is considered one of the best undeveloped iron ore deposits in the world in terms of size and quality, and is comparable with Carajas in Brazil. When the mine goes into full production, Simandou will be the largest integrated iron ore mine and infrastructure project ever developed in Africa and will generate sustainable social and economic gains for Guinea.

Nearby Locations

Nearby Location News

  • ASX: Rio Tinto agrees Heads of Agreement to sell its stake in the 2016-10-30
  • Rio Tinto says Guinea iron-ore partner IFC to sell stake 2016-10-11
    Mining giant Rio Tinto said on Monday that the International Finance Corporation (IFC), a partner in its $20-billion Simandou iron-ore project in Guinea, is selling its 4.6% stake. The exit of IFC, an arm of the World Bank, is the latest setback for the project to develop the world's biggest untapped iron-ore reserves. In July, Rio Tinto's new Chief Executive Jean-Sebastien Jacques indicated the project had been shelved temporarily due to a sustained slump in prices.
  • Guinea blames Rio Tinto’s ‘rambling’ London team for mine delay 2016-08-17
    Guinea’s mineral management company said Rio Tinto Group overstated the Ebola virus’s effect on developing the world’s biggest iron-ore deposit and delayed its plans for the mine to focus on operations in Australia amid a rout in prices for the steelmaking material. “The real causes of the delay aren’t so much Ebola as they are the ramblings of the technical team in London,” Societe Guineenne du Patrimoine Minier said in its 2015 annual report. “Simfer overstated the effect of Ebola, unlike other mining companies that were able to better manage the epidemic, ” it said, referring to the concession license-holding company in which Rio Tinto has a 47% stake.
  • Rio says still lacks funding for huge Guinean iron-ore project 2016-08-03
    Rio Tinto's CEO said on Wednesday there was no progress for now on finding infrastructure financing for the massive Simandou iron-ore project in Guinea even after more than 200 meetings with possible backers. Simandou could have a major impact on Guinea's flagging economy, although iron ore prices are likely to remain under pressure in a global market expected to stay oversupplied for the foreseeable future.
  • Stellar enlists potential JV partner for Guinea, Liberia projects 2016-07-28
    Aim-listed Stellar Diamonds has signed binding heads of terms with Dubai-based commodities trading group Citigate Commodities to establish joint ventures (JVs) over the Baoulé kimberlite project, in Guinea, and over new exploration licences recently awarded to Stellar in western Liberia. The formation of the proposed JVs remain conditional upon completion of due diligence by Citigate and the parties entering into definitive JV agreements for each project.

Simandou South News

  • Guinea's Conde says Simandou iron mine auction suspended 2015-10-09
    Guinea's President Alpha Conde has suspended an auction for the right to develop half of Simandou, the world's biggest untapped iron-ore deposit, already running well behind a timetable indicated earlier this year by the country's mines minister. Speaking to journalists, Conde gave no reason for the decision, though some analysts think a steep drop in iron-ore prices and lawsuits surrounding the deposit may have diminished investors' appetite for the development.
  • Brazil's Vale transfers stake in Guinea venture to BSG Resources 2015-03-14
    Brazilian iron-ore miner Vale transferred its stake in a joint venture in Guinea to BSG Resources on Friday, the company said in a statement. Vale said this did not mean it was renouncing its right to recover from BSG Resources the investments it lost in the venture in the Simandou deposit, one of the biggest iron-ore prospects in the world.

Related News

  • IFC close to $2.7bn debt refinancing for Mozambique's Nacala railway 2016-10-07
    The International Finance Corporation, part of the World Bank, expects to close a $2.7-billion debt refinancing for the Nacala Corridor railway project in Mozambique early next year, a senior IFC official said on Friday. The refinancing could help to ease balance sheet pressure on Brazilian miner Vale which is developing the railway and a coal mine in the region.
  • Vale says rail delay limits new iron-ore mine output to 75mt 2016-09-20
    Brazil's Vale said on Monday output from its new S11D iron-ore mine in the Amazon region will be limited to 83 percent of full capacity as efforts to preserve cash and limit transport disruptions crimp a needed railway expansion. The $14.3 billion project, Vale's biggest-ever investment, was widely expected to produce up to 90 million metric tonnes a year of iron-ore - the key ingredient in steelmaking - after a two-year ramp-up scheduled to begin by year-end.
  • Vale says rail delay limits new iron mine output to 75m tonnes 2016-09-20
    Brazil's Vale said on Monday output from its new S11D iron-ore mine in the Amazon region will be limited to 83 percent of full capacity as efforts to preserve cash and limit transport disruptions crimp a needed railway expansion. The $14.3 billion project, Vale's biggest-ever investment, was widely expected to produce up to 90 million metric tonnes a year of iron-ore - the key ingredient in steelmaking - after a two-year ramp-up scheduled to begin by year-end.
  • Brazil grants Vale licence for Amazon iron-ore mine rail branch 2016-09-17
    Brazil granted Vale a ten-year licence to operate a 101-km branch line connecting its $14.3-billion S11D iron-ore mine project in the Amazon jungle to the Carajas Railway, the company said in a statement on Friday. The Carajas Railway branch will allow Vale, the world's largest iron ore exporter, to haul S11D's output to the Port of Ponta da Madeira in Sao Luis, Brasil to ships that will load the product for export.
  • Brazil's Coelho says Samarco may resume operations subject to conditions 2016-09-15
    Brazil's Samarco Mineração will be able to resume iron-ore mining operations should co-owners Vale and BHP Billiton come through with promised investments, Mining and Energy Minister Fernando Coelho said on Thursday. Samarco had operations halted last November, when a tailings dam at the mine burst and unleashed a mud flow that killed 19 people, left hundreds homeless and polluted a major river.

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