Chinese back Rio ore mine in Africa

Original article by Nick Evans
The Australian – Page: 24 : 6-Mar-20

Media reports have suggested that China’s State-owned Assets Supervision & Administration Commission will approve an investment in the Simandou iron ore deposit in Guinea. SASAC oversees investments made by Chinese government-owned enterprises such as Chinalco, which is one of Rio Tinto’s partners in the deposit. The massive cost of developing the Simandou deposit – which has been estimated at around $US20bn ($30.2bn) – has contributed to the project being stalled for more than two decades.

CORPORATES
RIO TINTO LIMITED – ASX RIO, CHINA. STATE-OWNED ASSETS SUPERVISION AND ADMINISTRATION COMMISSION, ALUMINIUM CORPORATION OF CHINA LIMITED

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