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Sunday, May 15, 2011

rio tinto iron ore simandou project 2011

rio tinto iron ore simandou project 2011 : Rio Tinto signed a Mining Convention with the Government of Guinea in 2003 to develop a Mining Concession at Simandou. To date we have invested more than US$700 million on the exploration and study work necessary to develop a world class mining operation at Simandou.

SIMANDOU IRON ORE PROJECT IN GUINEA
Rio is studying spending at least $6 billion in Guinea, where new President Alpha Conde has ordered a drafting policy giving the country at least a one-third stake in mining projects. The company said in July it had invested $650 million at Simandou and planned to begin mining within five years.Read More...

Guinea, Rio Tinto sign new deal for Simandou iron ore project
In recognition of the resolution of all outstanding issues and finalization of new investment agreement terms, Simfer will pay US$700 million to the Guinean Public Treasury upon promulgation of Presidential Decrees granting its mining concession and the approval of the proposed Chalco and Rio Tinto Simandou joint venture Read More...

Rio Tinto increases indigenous business involvement with new Pilbara contract
The one-year contract will support the expansion of Brockman 4 from its current annual capacity of 22 million tonnes to 40 Mt/a and Western Turner Syncline to 15 Mt/a. The expansion of the two mines, about 50 and 20 kilometres west of Tom Price respectively, is a key component in Rio Tinto's drive to reach 333 Mt/a capacity in the Pilbara in 2015. Read More...

Rio may spend USD 19 billion on Simandou project - JPMorgan
Analysts led by Fraser Jamieson in a report said that “Assuming similar capital intensity as BHP’s recent Pilbara investment which, given Simandou is Greenfield in nature may prove to be optimistic, implies USD 17 billion to USD 19 billion. Read More...

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