The news is good if you like the taste of Fanta:
Guinea said shareholders involved in Simandou, the biggest untapped iron-ore reserve globally, have signed $15 billion in financing agreements for the project.
…“Simandou is no longer a dream but a reality,” Djiba Diakite, head of the strategic committee which led the talks, said in the statement. “There is no doubt that the project will be delivered on schedule by the end of December 2025.”
First ore is expected at the end of 2025. It seems wildly ambitious, but there has been a lot of preparatory work done, and nobody speeds builds like the Chinese, so who knows?
The timing of the new ore could not be worse as the world’s greatest-ever building bust gets underway in earnest in 2025, according to Goldman Sachs:
Here is my best-case scenario of a more genteel decline slope:
To call it big really just does not say it.
