RIO - Mining Milestone: Rio Tinto To Launch World's Largest Project In Guinea's Simandou Mountains | Benzinga
After almost three decades of legal, financial, and political setbacks, Rio Tinto (LSE: RIO) is looking to break ground on the world’s largest mining project in the Simandou mountains of Guinea.
When Rio Tinto secured an exploration license for Simandou in 1997, Bill Clinton was starting his second term, Steve Jobs returned to Apple, and the google.com domain got registered. Since then, the project faced legal disruptions, funding issues and political instability. Guinea went through two coups d’état and multiple changes in leadership.
Now read: As Oversupply Deflates Lithium Bubble, IPO Market Keeps In High Spirits
The Simandou project encompasses two iron mines, a sprawling 400-mile rail system, and a ...