Anglo-Australian mining giant Rio Tinto said on Monday it had submitted feasibility studies to the Guinea government for its massive Simandou iron ore project, considered the world's biggest untapped iron ore deposit.
Rio Tinto submits feasibility study for Simandou project
The real cost of the project, which could have a major impact on Guinea's flagging economy, has yet to be revealed but it is tipped to reach $20 billion.
A Rio Tinto logo is displayed on the front of a wall panel during a news conference in Sydney November 29, 2012.
Simfer, Rio Tinto's subsidiary, "submitted today the bankable feasibility study (EFB) of the mine and the infrastructures of the Simandou South Project in Guinea", the world's No. 2 miner said in a statement.
"They are based on extensive analyses conducted during the last two years by Simfer, China Harbour Engineering Company (CHEC), China Railway Construction Corporation (CRCC) and other international mining and construction services providers."
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.ng
Recommended articles
How we reduced road traffic crashes by 42% – FRSC boss
Motorists express worry as long fuel queues resurface in FCT
Reno's $10,000 Challenge: I didn't build any school in Anambra, Obi opens up
Bullied student threatens Abuja school with lawsuit if abusers are not punished
EFCC withdraws appeal against Yahaya Bello
Gov Zulum wants Army to establish military base in Sambisa forest
2 Wike loyalists exit Fubara's cabinet as Governor reshuffles
Ganduje believes APC is the answer to Nigeria’s problems
Spate of deaths strikes Nigerian movie industry, Nigerians calls for action
ADVERTISEMENT