Guinea ink deal on rail and port for iron ore transportation
The government of Guinea has sealed a deal with Rio Tinto Simfer and the Winning Consortium Simandou for the development of a 670-kilometre railway to link Simandou iron deposit area with a port located south of the capital, Conakry.
This infrastructure will play a crucial role in facilitating the transportation of iron ore, goods, and passengers, thereby enabling the efficient export of resources from the region. The project’s anticipated completion date of December 2024 is a positive sign, and it’s expected to create numerous direct jobs in the region.
Simandou iron ore deposit
The Simandou iron ore deposit located in the Simandou mountain range in south-eastern Guinea is believed to be the world’s biggest untapped high-grade iron ore deposit. It is also one of the most easily extractable iron ore deposits in the world. Each half of the deposit is estimated to contain approximately two billion tonnes of recoverable high-quality iron ore reserves grading 66%-68% Fe.
Despite its discovery in 2002, the massive ore body has remained dormant due to prolonged legal battles involving charges of corruption and bribery for securing mining rights, the military dictatorship in the West African country until 2010, as well as the huge infrastructure cost to develop the project.
