Guinea's massive Simandou iron ore mine and infrastructure project will restart in March, the country's military government said in a statement on January 30, Reuters reported.
Guinean authorities ordered a halt to construction of the Simandou iron ore project last July to force the project's shareholders to agree to the terms of the joint venture. Shareholders in the Simandou project include Rio Tinto, Chinalco, China Baowu Iron and Steel and Simandou Winning Union.
Coup leader Colonel Mamady Doumbouya visited Baowu, China, with other senior officials from January 11 to 22, the statement said, adding that the partners aim to reach final terms by February 28 at the latest.
"The mission is excellent and decisive and aims to restart the massive Simandou project as soon as possible in March 2023, with negotiations on the terms of the project finalised by February 28 at the latest," the statement said.
Colonel Doumbouya expressed support for China Baowu's investment in Simandou but reminded the company that the project must be completed by the deadline, the statement said.
In March last year, the junta said Simandou's infrastructure - a 600km railway and a port - must be completed by December 2024 and production must begin by March 31, 2025, a timetable described by analysts as very ambitious.
