{"id":1149546,"date":"2019-11-13T07:58:38","date_gmt":"2019-11-13T13:58:38","guid":{"rendered":"https:\/\/www.mining.com\/?p=1006692"},"modified":"2019-11-13T07:58:38","modified_gmt":"2019-11-13T13:58:38","slug":"china-backed-jv-to-develop-giant-simandou-north-iron-ore-deposit-in-guinea","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1149546","title":{"rendered":"China-backed JV to develop giant Simandou north iron ore deposit in Guinea"},"content":{"rendered":"<p>A China-backed joint venture between Guinea&#8217;s Societe<br \/>\nMiniere de Boke (SMB) and&nbsp;Singapore&#8217;s&nbsp;Winning scored a big win in the<br \/>\niron ore world after securing on Wednesday rights to develop the northern area<br \/>\nof Simandou, one of the world\u2019s largest untapped deposits of the steelmaking<br \/>\ningredient. <\/p>\n<div class='d-flex justify-content-center'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>The $14 billion bid submitted by SMB-Winning consortium,<br \/>\nwhose investors include Chinese aluminium producer Shandong Weiqiao and the<br \/>\nYanta\u00ef Port Group,&nbsp;edged out Australia\u2019s Fortescue Metals Group\u2019s<br \/>\n(ASX:FMG) offer, which remains unknown.<\/p>\n<p>Guinea, which <a rel=\"noreferrer noopener\" href=\"https:\/\/www.mining.com\/web\/guinea-seeks-developers-for-simandou-iron-ore-deposit\/\" >launched an international tender for blocks 1 and 2 of Simandou in mid-July<\/a>, said the consortium had committed to build a 650km railway and a deep-water port on the Guinean coast to transport the ore out of the country.<\/p>\n<p><em>More to come\u2026<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Guinea&rsquo;s Societe Miniere de Boke (SMB) and Singapore&rsquo;s Winning offered $14 billion to build a mine and related infrastructure.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center 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