(Bloomberg) — Guinea has authorized the China-backed SMB-Winning Consortium to resume its operations at the giant Simandou iron-ore mine, the government said Sunday in a statement read on state broadcaster Radio Television Guineenne.
Operations had been suspended on March 10 after the government said Rio Tinto and the Chinese-backed consortium failed to make progress on a request to agree on financing a port and railway at the site.
The green light came two days after Guinea and the two owners of the world’s largest untapped iron ore deposits signed a pact that gives the West African nation 15% stakes in the railway, port and the mines.
Read more: Guinea, Simandou Project Holders Sign Pact on Iron Deposits
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