CONAKRY, 09 Dec. - (ANA) - Against all odds, Guinea’s $20 billion Simandou megaproject, including a 600-km railway, a new Atlantic port, multiple tunnels and bridges, and a twin set of mines, stunned the global mining world.

 

China is reshaping the global trade in iron ore by backing Guinea’s $20 billion Simandou megaproject, reports Sixth Tone. Major stakes in the mine — whose deposits have been described as the “caviar of iron ore” — are held by Chinese state-owned giants. 

 

“Simandou offers a strategic alternative” for China, writes the outlet, allowing it to diversify from its current major iron ore suppliers in Australia and Brazil. - (ANA) -

 

AB/ANA/09 December 2025 - - -