Guinea’s Simandou project aims to achieve maximum iron ore output by the second operational year, with projections of 30 million tons in the first year and 60 million tons subsequent year per mine. Blocks 1 and 2 are managed by a Chinese consortium while blocks 3 and 4 are under the control of Rio Tinto and Chinalco. Guinea is also the top exporter of bauxite.
Guinea anticipates reaching maximum output from the Simandou iron ore project by its second year of production, which is set to commence in December. According to Mines and Geology Minister Bouna Sylla, the government estimates that each of the two mines at this major deposit will produce 30 million tons in the first year, subsequently doubling to 60 million tons by the second year. Sylla highlighted that achieving this level requires approximately two years due to the ramp-up period involved.
The Simandou project encompasses four blocks, with blocks 1 and 2 under the control of Winning Consortium Simandou, which is supported by Chinese firms such as China Baowu Steel Group. Blocks 3 and 4 are owned by Rio Tinto Plc and the Aluminum Corporation of China (Chinalco). Beyond iron ore, Guinea is also recognized as the leading global exporter of bauxite, essential for aluminum production.
The Simandou iron ore project is touted as one of the largest untapped iron ore deposits in the world, presenting a significant opportunity for Guinea’s mining sector. This initiative is crucial for the nation’s economic growth, particularly with the government aiming to boost mineral production levels. The strategic importance of the mining industry in Guinea is underscored by its role as a major player in not only iron ore but also bauxite exports.
In summary, Guinea’s Simandou iron ore project is geared to become a cornerstone of the country’s mining industry, anticipating production levels to reach 60 million tons per mine by its second year. With major Chinese interests in the project, alongside established mining companies, the initiative will likely contribute significantly to Guinea’s economy while advancing its position in the global mineral market.
Original Source: www.mining.com
