According to Reuters, Chinese steel producer Baowu Resources has taken control of the operator of Guinea's SimandouBlocks 1 and 2 after increasing its stake in the Winning Consortium Simandou to 51 percent from 49 percent.
China’s Baowu Resources has become the lead operator of Guinea’s SimandouBlocks 1 and 2. By increasing its stake in the Winning Consortium Simandou from 49% to 51%, the ...
Importers in China have taken delivery of the first cargoes of iron ore from Guinea's Simandou mine, one of the largest new projects of its kind to c ....
The arrival represents the first time ore from Simandou's blocks 3 and 4 has entered the Chinese market, providing a critical alternative to traditional, lower-grade ores as the world's largest steel producer seeks to slash industrial emissions.
China, the world’s largest iron ore consumer, has received its first shipment of iron ore from the Simandou mine in Guinea, West Africa, a project in which Beijing has heavily invested to enhance supply security.
The arrival represents the first time high-grade ore from Simandou's blocks 3 and 4 has entered the Chinese market, providing a critical new source of raw material for the world's largest steel producer as it seeks to reduce industrial emissions.
China has received its first shipment of iron ore from the Simandou mine in Guinea, marking a significant step in the country's strategy to secure long-term iron ore supplies, according to a report by Reuters.