Rio Tinto Group is making progress on the development of Guinea’s giant Simandou iron-ore deposit, bringing a potential overhaul of global supply of the steel-making material closer into view.
Firing up production from the small West African nation would add a new source of high-quality ore and deliver a challenge to some lower-grade exports from Australia and Brazil, the existing largest suppliers.
“There is more activity in Guinea,” Rio’s CEO Jean-Sebastien Jacques said in an interview. “Covid-19 remains a concern and the movement is pretty slow, but we are progressing our studies as we speak with our Chinese partner.”