Tag «Chinalco»

Rio Tinto agrees Heads of Agreement to sell its stake in the Simandou project to Chinalco

Rio Tinto and Chinalco have signed a non-binding agreement to sell Rio Tinto’s entire stake in the Simandou project in Guinea to Chinalco. The Heads of Agreement sets out the proposed principal terms of the sale with the aim of signing a binding agreement within six months. Rio Tinto will receive payments of $1.1-1.3 billion …

Simandou South: Signature of the Investment Framework Marks a Significant Move Forward

Today in Conakry, the Government of Guinea and its partners, Rio Tinto, Chinalco and the IFC, signed the Investment Framework (“IF”) for blocks 3 and 4 of Simandou, the Project, which will be the largest combined iron ore and infrastructure project ever developed in Africa, providing Guinea with the opportunity to reap the benefits of …