The Government of Guinea, Winning Consortium Simandou & Rio Tinto Simfer have incorporated the La Compagnie du TransGuinéen to further progress plans to co-develop the multi-purpose and multi-user infrastructure for the Simandou iron ore project. The joint venture incorporation is a significant milestone in implementation of the framework agreement signed among the parties on 25 March 2022. It has been fully registered and established in Guinea and is intended, following negotiation of definitive tripartite entity arrangements, the company will be the central structure for the co-development of the rail and the port components of the Simandou iron ore development project. Following the incorporation of the joint venture, the parties will now work on next steps including shareholding agreement, finalising cost estimates and funding, and securing all necessary approvals and other permits and agreements required to progress the co-development of infrastructures. WCS and Rio Tinto Simfer are committed to co-develop the rail and port infrastructures in line with internationally recognised environmental, social and governance standards. This milestone paves the way to progress the shareholder agreement, and secure necessary financing to construct a strategic corridor with more than 600 kilometres of rail infrastructures extending from south to south-west of the Republic of Guinea, as well as port infrastructure in the Forécariah prefecture in Maritime Guinea. The infrastructure constitutes the backbone of the Simandou project that presents a significant opportunity for the economic growth of the Republic of Guinea, in addition to the mining activities it will support. WCS and Rio Tinto Simfer, the holders of blocks 1-2 and 3-4 respectively, are fully engaged with all stakeholders at national and local level to transform the iron ore potential of the Simandou mountain range into a sustainable source of wealth for the people of Guinea for generations to come.