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The Simandou mine has known much turmoil and many mining rights disputes over the years. In 2008 Rio Tinto Group, the licensee of the Simandou concession, was ordered by the Guinean government to relinquish the northern half (Blocks 1 and 2, east and southeast of Kérouané) to BSGR (Beny Steinmetz Group Resources), a company controlled by the Israeli diamond investor Beny Steinmetz.
On 19 March 2010 Rio Tinto and its biggest shareholder, Chinalco, signed a memorandum of understanding to develop Rio Tinto's iron ore project in the Simandou mine in Simandou, Guinea. [35] [36] On 29 July 2010, Rio Tinto and Chinalco signed a binding agreement to establish this joint venture covering the development and operation of the ...
Simandou is a 110-kilometre-long (68 mi) range of hills located in the Nzérékoré and Kankan regions of southeastern Guinea, in the country's mountainous, forested Guinée Forestière region. At the southern end of the range the site of a large iron ore deposit is currently being developed.
Editors note: A previous version of this article misstated BSG Resources relationship with Vale, in addition to stating BSG Resources paid $165 million for the right to the Simandou deposit, when ...
HOUSTON (Reuters) -Rio Tinto Ltd is working to maintain steady supplies of fuel and other goods for its Mongolian copper operations from suppliers that buy from Russia and elsewhere, a top ...
These largely remains untapped, and its quality grade is more than 60%. Rio Tinto's joint sector enterprise in the iron ore sector is the Simandou mine project, with a value estimated at $6 billion. [3] [22] In 2012, Simandou mine was projected to produce 90 million tons of iron ore annually. [23]
Thousands rallied on Monday in the Serbian city of Sabac to protest the Rio Tinto lithium project, over fears it could cause environmental harm. Lithium, which is regarded as a critical material ...
The project is being developed by a consortium comprising Winning Consortium Simandou (WCS), Rio Tinto (in partnership with others) and the government of Guinea. [4] A description of the project, including map, funding and future ownership arrangements is provided on the WCS website [5] and in a Rio Tinto press release [6]