$20 billion Simandou iron ore project begins operations in Guinea
Production began on Nov 11 at Guinea's Simandou iron ore project, one of the world's largest untapped deposits of high-grade iron ore.
Guinean President Mamady Doumbouya joined project partners Winning Consortium Simandou, China Baowu Group, Chinalco, and Rio Tinto at Morebaya Port for a ceremony marking the start of operations.
The facilities delivered in this phase include more than 600 kilometers of newly built, multi-use trans-Guinean railway together with supporting port infrastructure.
With a total investment exceeding $20 billion, the project covers the integrated development of the mine, the railway, and the port.
The Simandou mine contains proven reserves of 4.4 billion tons with an average iron content above 65 percent. Once fully operational, annual iron ore exports are expected to reach up to 120 million tons.
The railway connecting the mine and Morebaya Port spans the country, consisting of a 552-kilometer main line and a 74-kilometer branch line, and has an annual transport capacity of 220 million tons.
The port is designed to handle more than 120 million tons of iron ore each year.
Hu Wangming, chairman of China Baowu Group, said the project will provide a stable supply of green raw materials for the global steel industry and support sustainable economic growth in Guinea.
Source: Shanghai Observer