Rio Tinto will provide an additional $1.3bn for the development of the Simandou iron ore project in Guinea.

The firm will invest $211m in continued studies and $1.1bn in commitments for early works and procurement of long-lead items of the project.

Currently the firm is in the process of obtaining the required regulatory approvals with project partner Chalco.

Finalisation of the infrastructure investment framework is expected in early 2012, which will also require the Government of Guinea to contribute its share of infrastructure project expenditure.

The funding will allow the project to move forward towards a first shipment of ore in mid-2015.


How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.