The global iron ore supply market has welcomed a heavyweight "new player".

    Local time on the 11th, the Simandou project in Guinea, West Africa, officially started production. The entry of this "giant" into the market will mean that the monopoly of the four major mines on the global iron ore market will be loosened, and the global iron ore supply pattern may undergo a major change.

    According to Rio Tinto, on the 11th local time, the partners of the Simandou project - the Win Alliance, China Baowu, Chinalco Group and Rio Tinto Group - jointly attended a ceremony held at the Forécariah port in Guinea to celebrate the official commissioning of the Simandou project.

    This project will deliver over 600 kilometers of new multi-purpose railway across Guinea, along with port facilities for barges and transfer ships. Currently, the testing and commissioning of the infrastructure for the mines, railway, and barge port system are underway. The Win Alliance and SimFer have both begun transporting ore from the mining area to the port via the railway across Guinea.

    Industry experts believe that Simandou is the largest and highest-quality untapped iron ore deposit in the world, with an average grade of over 65% and an annual production capacity of up to 120 million tons.

    The Simandou project is of immense scale and is jointly developed by the government of Guinea, the Win Alliance, and the SimFer joint venture. Among them, the developers of the Simandou 1 and 2 blocks are the Win Alliance, while SimFer holds the mining rights for the Simandou 3 and 4 blocks.

    After the project is officially put into operation, all the jointly constructed infrastructure and vehicle equipment will be transferred to the Cross-Guinea Company and will be operated by it. The Cross-Guinea Company is jointly held by SimFer and Win Alliance, each holding 42.5%, and the Guinean government holds the remaining 15%.

Source: "Rio Tinto Group" WeChat Official Account

    China Baowu's Chairman Hu Wangming stated at the celebration ceremony that the successful commissioning of the Simandou project is an important milestone in the history of global mining. During the project development process, all parties always considered the overall situation and the long-term perspective, adhered to the principles of marketization, legalization and internationalization, and ensured that the project was advanced to a high standard and quality.

声明：转载此文是出于传递更多信息之目的。若有来源标注错误或侵犯了您的合法权益，请作者持权属证明与本网联系，我们将及时更正、删除，谢谢。