Rio Tinto produces iron ore for steel, aluminum for cars and smartphones, copper for wind turbines, responsibly sourced diamonds, titanium for household products, and borates for crops that feed the planet. Our mission is to find essential materials for a low-carbon future.
We are proud to be a committed long-term partner to the people of Guinea, providing our expertise, resources, and excellence to play a major role in the success of the Simandou project.
Who We Are
In collaboration with our partners and the government of the Republic of Guinea, we have the privilege of bringing to life a unique mega-mining project that will extract high-grade, low-impurity iron ore, among the best in the world.
The economic potential of the Simandou project, with its vast ore deposits and the necessary infrastructure to market them, will not only benefit the directly involved parties but also create potential economic development for Guinea and its people for generations to come.
We are committed to prioritising the physical and emotional safety and well-being of both the individuals we work with and the communities neighboring our operations. Through thorough research aimed at preservation, we will protect Guinea’s unique ecosystem.
We act courageously by demonstrating integrity, speaking up when something is wrong, and taking decisive action when needed. We are not afraid to try new things. We respond positively in difficult situations and demonstrate our commitment to achieving common goals.
We act with curiosity and will work closely with the local population and the Guinean government to ensure that this project aligns with their vision for the country. We are constantly learning and seeking creative solutions to perform our work more efficiently and safely. We draw inspiration from others and the world around us.
Iron Ore Heritage
Iron ore is the primary raw material used to make steel. Steel is a robust, durable, and cost-effective material, making it perfect for everything from washing machines to cars, bridges, and skyscrapers.
According to the World Steel Association, steel is the most widely used alloy in the world. Global steel consumption is expected to grow by 1 to 2% per year over the next decade.
The Bessemer process for making steel was developed by the British inventor Henry Bessemer in the mid-1850s. By the mid-20th century, the Bessemer process was refined to become the basic oxygen process, still used today in blast furnaces. Today, new technologies offer considerable potential to improve how we approach our markets.
Simandou is set to expand our rich range of iron ores, adding to our high-quality products from the Iron Ore Company of Canada and supporting the long-term attractiveness of our Pilbara Blend™ offering.
Project Scope
The Simandou project is a global-scale iron ore mining project located in the Simandou mountain range, in the Nzérékoré region of Guinea. Simandou is home to the largest known high-grade iron ore deposit to date, which is also the largest and richest untapped deposit in the world. Our operations in Guinea will play a transformative and sustainable role in the country’s economic development by bringing new employment opportunities, education initiatives, significant investments in local communities and national infrastructure, and contributing to the growth of the country’s private sector.
Our joint venture, Rio Tinto SimFer, holds rights to the two southern blocks of the Simandou deposit (blocks 3 and 4).
Our team based in Guinea comprises over 25 different departments. Whether it’s health and safety, communications, logistics, permit issuance, or other areas, we are committed to developing local talent in Guinea.
Our Joint Venture Partners
We are confident in the transformative potential of the Simandou project, which will pave the way for a more promising future for Guinea and its people. Therefore, we work in collaboration with the Guinean government and other partners to implement key elements of the project beyond the mine itself.
The co-development of infrastructure will enable the Guinean state to harness the potential of the Simandou deposits and benefit from additional revenues in the form of tax revenue, royalties from SimFer and WCS mining activities, and dividends through the state’s participation, which will act as a catalyst for the development of the Guinean economy and its diversification into sectors other than mining.
Since the beginning of 2022, we have been working closely with the Republic of Guinea and WCS to establish the co-development agreements of the joint venture. We have made significant progress, and in July 2022, we signed the shareholders’ agreement of the CTG, which outlines the terms of the joint venture for the CTG, the owner, and operator of the co-developed infrastructure.
In August 2023, we signed the co-development agreement and bilateral agreements on the mine, which adapt the existing agreements of SimFer and WCS to enable the co-development of infrastructure.
In September 2023, SimFer signed the investment agreement with WCS to allow it to invest 34% in WCS project companies during the construction period, and Baowu signed investment agreements with WCS concerning the WCS mine (blocks 1 and 2) and infrastructure.
The undertaken works are complex, meet the highest standards, and require us all to work together. We are proud of the work accomplished so far.