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Rio Tinto signs rail, port JV with China-backed consortium for Guinea’s Simandou

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Reuters UK

By Praveen Menon and Helen Reid SYDNEY/JOHANNESBURG (Reuters) -Rio Tinto’s Guinea subsidiary has formed an infrastructure joint venture with Winning Consortium Simandou (WCS) and the government, paving the way for work to resume on the world’s largest undeveloped iron ore project. The joint venture (JV) for the Simandou railway and port is a milestone for Rio and WCS, whose shareholders include a unit of China Hongqiao, but the firms said they must still negotiate final JV agreements, without giving a timeline. A source with direct knowledge of the matter said the JV partners would meet later …

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