Guinea: Investment framework signed for Simandou South

Rio Tinto, Aluminium Corporation of China (Chinalco) and the World Bank’s International Finance Corporation have signed an investment framework with the government of Guinea to develop blocks 3 and 4 of the Simandou iron ore deposit, creating the largest combined iron ore and infrastructure project in Africa. A joint statement said the signing provided the legal and commercial foundation for the project. The investment framework will now be presented to parliament for ratification. Once it is ratified, the project partners will finalise a bankable feasibility study to confirm all the project parameters, including cost and timeline.