Mining giant Rio Tinto says it will pay the government of Guinea $US700 million ($A652.4m) after reaching an agreement to resolve all outstanding disputes over blocks three and four of its Simandou iron ore project. The company said in an emailed statement to Reuters that it had signed a settlement to secure Rio’s mining title for the southern Simandou blocks, paving the way for some $US10 billion in investment and the first shipment of iron ore by mid-2015.