14
Nov
05:34
SMB-Winning wins rights for Guinea iron ore deposit
A Chinese-backed consortium of Guinea's Societe Miniere de Boke (SMB) and Singapore's Winning has won a tender to develop blocks 1 and 2 of Guinea's giant Simandou iron ore deposit. It beat Australian miner FMG in the process, Kallanish notes.
It is estimated that the high-grade iron ore reserves of the above two iron ore blocks exceed 2 billion tonnes. The consortium offered to invest $14 billion for the development of the m…
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