Stake in huge iron ore mine in Guinea may cut China’s dependence on Australia

Apr 3, 2021 | INVESTING

The Simandou mountains, a 110km (68-mile) range deep in the interior of southeastern Guinea, is home to the world’s biggest untapped supply of high-grade iron ore, and China believes it could help cut its reliance on Australian imports amid trade tensions.The huge project, which holds an estimated 2.4 billion tonnes of iron ore graded at over 65.5 per cent, could diversify China’s supply chain but may not cut out Canberra completely, analysts say.Australia is the source of about 60 per cent of…

Read More

Pin It on Pinterest