Basic agreement for the development of Simandou iron ore blocks 1 and 2 is Signed.
Conakry, Guinea– On June 9th, 2020, under the authorization of the Cabinet Plenary of the Government of Guinea and on behalf of the government, the Ministry of Mines and Geology has signed with the SMB-Winning Consortium a basic agreement for the development of Simandou iron ore blocks 1 and 2.
The Simandou mine is one of the world’s largest untapped and richest high-grade open-pit iron ore deposits of its kind, of which, the block 1 and block 2 are holding approximately more than 3.6 billion tonnes of high-grade ore. the SMB-Winning Consortium formed by Winning International, Shandong Weiqiao, UMS and Yantai Port, won the tender for blocks 1 and 2 of Simandou in the International bidding organized by the Government of Guinea. The signing of the basic agreement marks that the development of the block 1 and block 2 of Simandou Iron Mine has entered a substantial stage. In view of this, the SMB-Winning consortium will form a “The Grand Consortium” with its investment partners to jointly develop the project.