Exclusive | Mega Simandou iron ore project in Guinea to start production ‘by next year’
- Mine is located in the Republic of Guinea’s 100km Simandou mountain range, said to hold the world’s largest untapped reserve of high-grade iron ore
- Chinese firms have placed a multibillion-dollar bet on the project, and about half or more of the iron ore mined could be exported to China
Samuel Gahigi, managing director of Rio Tinto Guinea, said in an exclusive interview that the mine project was well on track, with first iron ore production due as early as next year.
The mine is located in the Simandou mountains in the southeast of the Nzérékoré region in the Republic of Guinea. The mountain range spans more than 100km (62 miles) and is believed to hold the world’s largest untapped reserve of high-grade iron ore, estimated at over 2 billion tonnes.
According to Gahigi, the project is 30 to 35 per cent complete in terms of infrastructure, meaning the development of the mine itself and building the railway and port.
“Our plan is to have the first iron ore production by next year,” Gahigi said in Kigali, Rwanda, on the sidelines of the Africa CEO Forum earlier this month.
The Rio Tinto board and joint partners, including Chinese companies, have since given financial commitments for the US$20 billion project – a major boost for the mine after three decades of false starts, setbacks and scandals.