The development of one of the world’s largest untapped high-grade iron ore deposits in Guinea has edged one step forward after miners struck a deal.
activities at Simandou last month when both consortium parties failed to reach a deadline.
The Simfer joint venture comprises Simfer S.A., owned by the Government of Guinea, and Simfer Jersey, which is made up of Anglo-Australian miner Rio Tinto Group and Chinese group Chalco Iron Ore Holdings. China has been importing about 60% of its total from Down Under. Another 20% comes from Brazil, according to Chinese customs figures.
Alongside expediting new sources of iron ore, Dhar said China is attempting to control its iron ore supply by centralizing purchases of the material rather than allowing steel mills to do so in a piecemeal fashion, although that project might be hard to coordinate.
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