Rio Unlikely to Develop Guinea Iron Mine, Former Minister
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Rio Tinto Group is unlikely to develop its $10 billion iron ore project in Guinea in the foreseeable future as the African state struggles to fund transport links, the country’s former mines minister said.
The Simandou project has been “effectively frozen,” Mahmoud Thiam, Guinea mines minister between 2009 and 2010, said in an interview from New York yesterday. “I see it being frozen for the foreseeable future,” he said. The London-based mining company said plans for mining were proceeding.