Meaning of Simandou | Babel Free

Definitions

A hill range in Guinée forestière, southeastern Guinea. A large iron ore deposit here has been developed into a mining area in the 21st century.

Examples

“[…] understanding on setting up a joint venture to exploit the iron ore in Simandou in the south-east of Guinea. The project includes both a mine and rail and port infrastructure. Under this agreement, Chinalco will hold 47 per cent of the shares for an input of US$1.35 billion; the International Finance Corporation (World Bank Group) 5 per cent; and Rio Tinto the remainder. It would appear that Rio Tinto has already invested over US$600 million in this project. Once it begins to operate, the […]”

“Underneath a ridge in the southern highlands of Guinea, a west African country of 14m people, lies one of the world’s biggest deposits of iron ore. Mining of the 3bn-tonne deposit, which would be worth some $315bn at current market prices, has been on hold for nearly 30 years. On December 3rd the first batch of ore at last left the country’s shores, on a ship bound for steel mills in China. Simandou, as the mine is known, has the potential to shake up the global iron-ore market by shifting dominance from Australia to China, which owns a big stake in the project. It could prove transformative for Guinea, which wants to use the revenue to overhaul everything from roads to education. Most immediately, it bolsters the country’s military junta and its leader […]”

CEFR level