29th Oct 2018 06:31
LONDON (Alliance News) - Australian mining giant Rio Tinto PLC said the non-binding 2016 agreement for Aluminum Corp of China, known as Chinalco, to acquire Rio Tinto's entire interest in the Simandou iron ore project in Guinea has lapsed.
Rio Tinto and Chinalco, who respectively own 45.05% and 39.95% of Simandou, will continue to work with the government of Guinea to explore other options to realise value from the Simandou iron ore deposit, Rio Tinto said. The government of Guinea owns a 15% stake in the project.
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