The most advanced iron ore project in west Africa has been put on hold once more by Guinea’s temporary military administration, giving Australia and Brazil more sway over the seaborne market into China and northeast Asia.
The government believes that partners Rio Tinto, an Australian mining company, and SMB-Winning, a Chinese company, have missed a deadline to agree on a joint venture to create a 650km railway and related deepwater port.
The government suspended work for two weeks in March. The Guinean government says that the project is not benefiting from the delay and that it is now willing to engage with other developers who would like to expedite the project.
A fortnight’s reprieve.
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