The “cat and mouse” game between Rio Tinto – global number two iron ore producer – and the Guinean regime continues, over control of what the UK company claims is the world’s biggest “undeveloped” iron ore deposit.
Guinea’s mining minister says that: “A company of [Rio Tinto’s] stature and size can only be good for a country that has mining ambitions such as Guinea.”
But, at the same time, the regime has forced Rio Tinto to withdraw, at least for the time being, from its Simandou concession, in favour of BSRG. However, this Swiss based company is in no position to embark on mine-related rail and port infrastructure, which is crucial for the project’s success.
Rio Tinto is in a far better position to finance and complete these components; after all it’s already successfuly done so in the Pilbara iron ore region of Australia, and at its Fort Dauphin mineral sands venture in southeast Madagascar.
See http://www.minesandcommunities.org/article.php?a=9382.