11
Mar
14:42
Weiqiao provides guarantee for Simandou development
Weiqiao Aluminum & Power, a subsidiary of China Hongqiao Group, will provide a maximum of $1.78 billion in guarantees for two subsidiaries of Winning Consortium Holdings (WCH) to develop the Simandou iron ore project and to obtain funding from other investors, including China Baowu's subsidiaries.
Simandou in Guinea contains the largest untapped reserves of high-grade iron ore in the world. WCH, owned 50% each by Weiqiao and Winning Logistics, holds the ri…
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