Mining giant Rio Tinto revealed today all conditions have now been met for the development of the world’s largest new iron ore mine, a development that promises to alter the global dry bulk trading map.
Rio Tinto will now proceed with developing rail and port infrastructure for the Simandou mine project in Guinea with Chinese and Guinean partners.
More than 600 km of new multi-use trans-Guinean railway together with port facilities will allow the export of up to 120m tonnes per year of mined iron ore
First production from the mine is expected in 2025.
Guinea is already a major capesize destination thanks to the huge amount of bauxite shipped from the West African nation to China.
Energy News Beat