Simandou iron-ore project – Block 1 and 2, Guinea
Name of the Project
Simandou iron-ore project – Block 1 and 2.
Location
Simandou is located about 650 km south-east of Conakry, in Guinea.
Project Owner/s
Societe Minière de Boké (SMB)-Winning Consortium, comprising Guinea’s SMB and United Mining Supply, Singapore’s Winning International Group, and China’s Yantai Port Group and China Hongqiao Group, a subsidiary of Shandong Weiqiao Pioneering Group.
SMB-Winning consortium is developing Simandou through a new company, Winning Consortium Simandou.
Project Description
The Simandou openpit mine is one of the world’s biggest untapped and richest high-grade iron-ore deposits, holding more than two-billion tonnes of high-grade ore.
In November 2019, the SMB-Winning Consortium won the tender for Block 1 and 2. On June 9, 2020, the Ministry of Mines and Geology signed a basic agreement with SMB-Winning Consortium for the development ofthe two blocks. The consortium aims to build a mining project with a capacity of 60-million to 80-million tons a year.
The project includes the construction of a 650 km railway and deep-water port.
Blocks 3 and 4 of Simandou are owned by Rio Tinto (45.05%), Chinalco (39.95%) and the Guinea government (15%).
Potential Job Creation
Not stated.
Net Present Value/Internal Rate of Return
Not stated.
Capital Expenditure
The tender is estimated at $14-billion.
Planned Start/End Date
The two blocks are expected to enter into production by 2025.
Latest Developments
None stated.
Key Contracts, Suppliers and Consultants
None stated.
Contact Details for Project Information
Winning International Group, tel +65 62260169 or email info@winninggroup.com.sg.
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