The Guinean government foresees that the Simandou iron ore project will reach its full capacity in its second year, following the beginning of its operations, according to Bloomberg.
Considered the world’s largest untapped iron ore mine, the Simandou project is expected to begin operation by December this year. Bouna Sylla, Guinean minister of mines and geology, stated that two mines at Simandou will produce 30 million mt of iron ore each in the first year, with their production projected to reach 60 million mt each in the following year.
There are four blocks in the project, with Winning Consortium Simandou controlling blocks 1 and 2 and Australia-based miner Rio Tinto and Chalco Iron Ore Holdings having rights to blocks 3 and 4.