Meeting in Conakry on Thursday, August 10, 2023, representatives of the Guinean state, Anglo-Australian mining group Rio Tinto, Winning Consortium Simandou and Chinese steel giant Baou Steel Group signed the Co-Development Agreement and related documents for the development of port and rail infrastructure on the gigantic Simandou project.

The ceremony was presided over by Djiba Diakité, Minister - Director of Cabinet of the Presidency. Around the Director, there were the Minister of Mines and Geology, Moussa Magassouba, the Governor of the Central Bank of Guinea, Karamo Kaba, and others. The industrial partners, Rio Tinto, Winning Consortium Simandou and Baou Steel Group, were represented by Gerard Rheinberger, Robin Lu and Jiang Gongyang respectively.

The signing of this co-development agreement and related agreements "creates the legal framework for the co-development of a new multi-use railroad line over six hundred kilometers long with port facilities that will be used to export iron ore from mining concessions on the Simandou, located in the southeast of the country", according to Rio Tinto's press release dated August 11, 2023.

A project with major benefits

The completion of the Simandou project will undoubtedly bring enormous benefits to Guinea in terms of economic growth, job creation, business opportunities for Guinean companies and tax revenues for the country.

Rio Tinto Simfer, along with its subcontractors, already employs over 3,000 people and intends to at least double this number in the coming months, according to its representative. Winning Consortium Simandou and its subcontactors employ over 10,000 people on the project, and has completed around 25% of the tunnels and 45% of the pillars planned for the project.