Rio Tinto Signs $20 Billion Deal with Guinea for Simandou Iron Ore Project

Simandou Iron Ore

Rio Tinto, the Anglo-Australian mining giant, submitted feasibility studies to the Guinean government for a massive Simandou iron ore project, considered to be the world’s biggest untapped iron ore deposit. It is a step towards tapping the 2 Billion tonnes deposits at a cost of about $20 Billion. The feasibility studies outlines the development of the mine and related infrastructure.

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