Website traffic statistics
Pages viewed and unique visitors to BMI Online
Month/
year
Page
views
Unique
visitors
Jul '1496,3203,251
Jun '1493,4553,468
May '14111,1143,829
Apr '14100,0373,844
Mar '1494,7173,888
Feb '1481,2193,609
Jan '1452,5983,538
Dec '1338,7992,300
Nov '1332,9942,672
Oct '1335,8132,617
Sep '1329,4992,530
Aug '1333,7743,758
Jul '1329,5593,996
Jun '1343,2453,765
May '1335,2703,865
Apr '1338,0683,786
Mar '1358,8314,255
Feb '1336,2964,497
Jan '1336,6074,208
Dec '1236,5184,003
Nov '1237,2064,144
Oct '1241,5014,151
Sep '1239,6183,243
Aug '1258,0694,113
Jul '1236,9364,278
Jun '1230,2263,241
May '1226,6422,900
Apr '1236,7782,953
Mar '1233,3133,329
Feb '1232,1494,071
Jan '1223,0233,568
Dec '1130,4783,022
Nov '1127,8413,394
Oct '1126,5283,175
Sep '1125,1252,889
Aug '1128,1962,806
Jul '1127,3502,728
Jun '1128,2072,684
May '1127,3082,659
Apr '1129,9762,538
Mar '1135,4002,797
Feb '1132,5483,004
Jan '1136,2913,044

Bulk Materials International: For bulk handling and transportation professionals worldwide.
CLICK HERE for our FREE weekly eNewsletter
Search: 

Published: 30 March 2010      

Joint venture for Simandou

Rio Tinto and Aluminium Corporation of China (Chinalco) have signed a preliminary agreement to develop the Simandou iron ore project in Guinea.

The deal follows Rio Tinto’s decision to reject US$19.5B of investment from the Chinese firm, which is already the mining giant’s biggest shareholder.

Rio ultimately opted for a joint venture with BHP Billiton and a $15.2B rights issue but China remains one of the firm’s most important markets, so the Guinean agreement could be an attempt to repair damaged relations with Beijing in the wake of the Rio Tinto bribery scandal in China.

Much of the Simandou iron ore is expected to be shipped to East Asia, given the resilience of Chinese steel production.

The joint venture could also be designed to spread the risk, given that Guinea had been ruled by a military junta since President Lansana Conte died in December 2008. The military government repeatedly threatened existing mining sector concessions, although a joint civilian-military interim government was unveiled in February.

Rio Tinto currently holds a 95% in the Simandou project, with the remaining equity owed by the World Bank.

Chinalco will now invest US$1.35B over the next three years in return for a 47% stake. Total project costs were estimated at US$6B but this figure could double by the time the first production is shipped out of the country.

A key element of the scheme will be the development of new rail and port infrastructure to enable the export of the iron ore, as the 2.25 bt of iron ore at Simandou lie about 750 km from the coast.

However, details of the new transport projects have not yet been concluded and it is not yet known whether a private sector port operator will be offered the opportunity to manage the new port facility.

Output is expected to peak at 70 mtpa.



To find out more about Bulk Materials International:
  • Click here to order a back issue
  • Click here to subscribe to Bulk Materials International
  • Click here for a sample back-issue of Bulk Materials International
  • Read related items
    Click on the links below to read other news and features related to this item.
  • Africa) Guinea) Guinea
  • Africa) Guinea) Iron ore
  • Africa) Guinea) Simandou project
  • Asia) Asia) Steel
  • Asia) China) Steel
  • BHP Billiton
  • Chinalco
  • Rio Tinto
  • World Bank
  • Agreement
  • Joint ventures
  • Port developments
  • Rail








  • All contents © WCN Publishing, 24 Bridge Street, Leatherhead, Surrey KT22 8BX, England.