Guinea on Tuesday signed an agreement with a consortium for the development of its giant Simandou iron-ore reserve, another step towards the realisation of a project which it hopes will bring a $15-billion windfall over the 25-year lifespan.
The deal includes the construction of a 650 km railway from Guinea’s mountainous forest region to the coast, and a deep sea water port, which will unlock the development of blocks 1 and 2 of the rich Simandou iron reserve.
It is expected to be minerals-rich Guinea’s largest industrial mining project to date.