{{The government of Guinea has signed an investment agreement for US$20bn to develop the Simandou iron ore project.}}<\/p>\n
According to Reuters, Yansane Kerfalla, mining minister, said that Guinea was on track to conclude negotiations with its partners \u2014 Anglo-Australian mining company Rio Tinto, International Finance Corporation and China\u2019s Chinalco, on the Simandou project.<\/p>\n
Simandou is the largest untapped iron ore deposit in West Africa and the project is touted to be an ambitious one in the West African country.<\/p>\n
The project would comprise the construction of a deepwater port, fibre optic and wireless communications, and 1,000km of new roads and railway lines to carry the ore from the Simandou mountain range.<\/p>\n
Sam Walsh, chief executive of Rio Tinto, said, \u201dThe Simandou iron ore project, which could create Africa\u2019s biggest ever infrastructure venture, would boost Guinea\u2019s annual revenue by US$1.2bn through income tax and royalty payments, and pump billions more into the nation\u2019s economy.\u201d<\/p>\n
The deposit would also contribute about US$7.6bn to the Guinean economy \u2014 22 times the US$340mn received in international aid by the West African country in 2012, added Walsh. Production is expected to begin by the end of 2020, added reports.<\/p>\n
According to statistics by Rio Tinto, Simandou has 2.25bn tonnes of iron ore resources and the company has been given control of all four tenements.<\/p>\n
In April 2011, Rio Tinto and the government of Guinea signed a settlement agreement that secured Rio Tinto\u2019s mining title in Guinea and provides the government the right to take a stake of up to 35 per cent in Simfer SA, according to the company website.<\/p>\n
african review<\/p>\n","protected":false},"excerpt":{"rendered":"
{{The government of Guinea has signed an investment agreement for US$20bn to develop the Simandou iron ore project.}} According to Reuters, Yansane Kerfalla, mining minister, said that Guinea was on track to conclude negotiations with its partners \u2014 Anglo-Australian mining company Rio Tinto, International Finance Corporation and China\u2019s Chinalco, on the Simandou project. Simandou is […]<\/p>\n","protected":false},"author":2,"featured_media":2000052394,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[100],"byline":[170],"hashtag":[],"class_list":["post-14652","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-africa","byline-igihe"],"bylines":[{"id":170,"name":"IGIHE","slug":"igihe","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":8}],"contributors":[{"id":170,"name":"IGIHE","slug":"igihe","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":8}],"featured_image":{"id":2000052394,"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton14652.jpg","alt":"","caption":"","mime_type":"image\/jpeg","width":0,"height":0,"sizes":{"thumbnail":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton14652.jpg","width":1,"height":1},"medium":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton14652.jpg","width":1,"height":1},"medium_large":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton14652.jpg","width":1,"height":1},"large":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton14652.jpg","width":1,"height":1},"full":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton14652.jpg","width":0,"height":0}}},"_links":{"self":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/14652","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/comments?post=14652"}],"version-history":[{"count":0,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/14652\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media\/2000052394"}],"wp:attachment":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media?parent=14652"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/categories?post=14652"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/tags?post=14652"},{"taxonomy":"byline","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/byline?post=14652"},{"taxonomy":"hashtag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/hashtag?post=14652"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}