Guinea's 110-kilometer Simandu Ridge contains one of the largest untapped iron ore deposits in the world, containing over 8.6 billion tonnes of ore with an average iron grade of 65%.
A military junta seized control of the West African country of Guinea and detained President Alpha Conde, prompting uncertainty over major bauxite and iron ore reserves.
Geopolitical risk has been one of the many obstacles to Simandou's advancement so far, and the military coup now unfolding in the country marks a significant deterioration in the prospects for successful development of the field.
Shimandu is located in the remote southeastern part of the country, a great distance from the capital, Conakry. “Consequently, the infrastructure needs of the project are enormous in scale, complexity and cost, exceeding in all respects the bauxite export industry that has been established in the country in recent years,” said Andrew Gadd, senior steel analyst at CRU Group.
Guinea coup complicates iron ore mining
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Azovpromstal® 8 September 2021 г. 10:28 |
