Simandou

Rio Tinto signed a Mining Convention with the Government of Guinea in 2003 to develop a Mining Concession at Simandou.  To date we have invested more than US$700 million on the exploration and study work necessary to develop a world class mining operation at Simandou. 

To fulfil our commitment to sustainable development, we have initiated several economic, social and environmental partnerships from the outset of our presence in Guinea.  These include a partnership with the International Finance Corporation (IFC), the private sector arm of the World Bank, which owns a 5 per cent stake of the Simandou project.  The IFC makes investments in projects that contribute to sustainable development, that are economically viable and comply with its social and environmental standards. 

We also collaborate closely with the Government of Guinea as well as with local and international non government organisations (NGOs), such as Conservation International and the Royal Botanical Gardens who have assisted Rio Tinto in completing extensive biodiversity studies.

In August 2010 we signed a binding agreement with Chinalco's listed subsidiary Chalco, under which a joint venture to develop and operate the Simandou iron ore project would be established.  Mining operations are expected to start within five years, with construction of a 700 kilometre trans-Guinean industrial railroad to transport annually 95 million tonnes of high-grade sinter fines to a new deepwater port that will be constructed near Conakry.

When the mine goes into full production, Simandou will be the largest integrated iron ore mine and infrastructure project ever developed in Africa and will generate sustainable social and economic gains for Guinea.

For further information about our Simandou project, please visit the Simandou website.