Media reports suggest that China Baowu Steel has signed an agreement with a Singaporean consortium to jointly develop part of the massive Simandou iron ore project in Guinea. Baowu Steel said it will form a consortium with major domestic steelmakers, infrastructure construction concerns and strategic investors to work with Winning Consortium Simandou in developing the Simandou North Iron Project in Guinea. Baowu is already participating in development of the southern part of the Simandou project.Winning Consortium Simandou plans on commencing an iron ore mine in the Kankan Region in Kérouané Prefecture of Guinea in Africa. The Simandou area is split into four mineable blocks, Block #1, #2, #3 and #4, of which Block #1 and Block#2 are owned by WCS and is where the Simandou Project is located. WCS owns 100% of the Concession extending the entirety of Blocks #1 and #2. The Project is currently in the design, engineering and impact assessment phase, with preparation of the bulk of on-site construction planned for 2022. Construction of the full Project will take approximately 5 years to complete. The mining and mineral processing operations will run for a minimum of approximately 25 years .Shareholding of La Compagnie du TransGuinéen is split between development partners Simfer Jersey and WCS each receiving a 42.5% equity share and the Government of Guinea taking a 15% free carry equity stake. WCS is a consortium of Singaporean company, Winning International Group (45%), Weiqiao Aluminium (35%) and United Mining Suppliers International (20%). WCS is the holder of Simandou North block 1-2The Simfer joint venture comprises Simfer, the holder of Simandou South Blocks 3 & 4, which is owned by the Government of Guinea (15%) and Simfer Jersey (85%). In turn, Simfer Jersey is a joint venture between the Rio Tinto (53%) and Chalco Iron Ore Holdings (47%), a Chinalco-led joint venture of leading Chinese SOEs (Chinalco (75%), Baowu (20%), China Rail Construction Corporation (CRCC) (2.5%) and China Harbour Engineering Company (CHEC) (2.5%).
Media reports suggest that China Baowu Steel has signed an agreement with a Singaporean consortium to jointly develop part of the massive Simandou iron ore project in Guinea. Baowu Steel said it will form a consortium with major domestic steelmakers, infrastructure construction concerns and strategic investors to work with Winning Consortium Simandou in developing the Simandou North Iron Project in Guinea. Baowu is already participating in development of the southern part of the Simandou project.Winning Consortium Simandou plans on commencing an iron ore mine in the Kankan Region in Kérouané Prefecture of Guinea in Africa. The Simandou area is split into four mineable blocks, Block #1, #2, #3 and #4, of which Block #1 and Block#2 are owned by WCS and is where the Simandou Project is located. WCS owns 100% of the Concession extending the entirety of Blocks #1 and #2. The Project is currently in the design, engineering and impact assessment phase, with preparation of the bulk of on-site construction planned for 2022. Construction of the full Project will take approximately 5 years to complete. The mining and mineral processing operations will run for a minimum of approximately 25 years .Shareholding of La Compagnie du TransGuinéen is split between development partners Simfer Jersey and WCS each receiving a 42.5% equity share and the Government of Guinea taking a 15% free carry equity stake. WCS is a consortium of Singaporean company, Winning International Group (45%), Weiqiao Aluminium (35%) and United Mining Suppliers International (20%). WCS is the holder of Simandou North block 1-2The Simfer joint venture comprises Simfer, the holder of Simandou South Blocks 3 & 4, which is owned by the Government of Guinea (15%) and Simfer Jersey (85%). In turn, Simfer Jersey is a joint venture between the Rio Tinto (53%) and Chalco Iron Ore Holdings (47%), a Chinalco-led joint venture of leading Chinese SOEs (Chinalco (75%), Baowu (20%), China Rail Construction Corporation (CRCC) (2.5%) and China Harbour Engineering Company (CHEC) (2.5%).
