The Simandou iron ore project in Guinea has received a $US100 million boost from major miner Rio Tinto.
The funding is set to go toward building the railways and ports for the project.
Rio is part of the Simfer joint venture, which is owned by Rio Tinto (53 per cent), Chalco Iron Ore Holdings (47 per cent), Baowu (20 per cent), China Rail Construction Corporation (2.5 per cent) and China Harbour Engineering Company (2.5 per cent). The major miner is set to mine iron in the Simandou region through this joint venture.
According to the Australian Financial Review (AFR), Rio Tinto gave the $US100 million loan individually to fund the rail and port construction until a final feasibility study is conducted.
“Guinea recently entered the group of middle-income countries. It is a country with incredible potential: its human potential, agricultural potential thanks to its rainfall, and of course the potential that lies within the Simandou mountain range.
“We are honoured to be part in this new chapter of Guinea’s history and we are determined to deliver the Simandou project for the people of Guinea.”
.jpeg "Rio digs deep for Simandou - Australian Mining 1")
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2020 KUBOTA U17-3 RUBBER TRACKED EXCAVATOR
$32,450
Forrestdale, WA
2016 TAKEUCHI TB228 TAKEUCHI TB228
$49,900
North St Marys, NSW
2019 JCB 48Z-1
$65,000
Lavington, NSW
2008 HITACHI ZX450
$145,000
Deniliquin, NSW
2020 CATERPILLAR 330GC 07B NEXT GEN
$349,800
Glenvale, QLD
NEW HOLLAND E35SR
$28,000
Lavington, NSW
EMED EM8.0
$76,450
Kilsyth, VIC
KOMATSU PC138US-8
$99,000
Stapylton, QLD
2012 DOOSAN DX300LC
$70,000
$2,950
per week (HIRE)
Trafalgar, VIC
2021 DOOSAN DX140LCR
$160,000
Melbourne, VIC
2017 CATERPILLAR 305E2CR
$45,000
Mulgoa, NSW
2018 BOBCAT E35 R Series
$64,900
Wellington Point, QLD
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