Ann: HY2025 Results Presentation, page-21

"... and we have that huge Iron ore mine Simandou coming on line that is going to smash Iron ore prices."

Simandou is way overblown. It will add 3.6% more I/O to the global supply once it reaches full production in 2028.


Here are some facts about Simandou and global production....





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Production is expected to ramp up after 30 months to an annualised capacity of 60 million tonnes.

So, how does that look against global output for iron ore supply?

In 2023, Australia, the world’s largest supplier, accounted for around 960 million tonnes.

Brazil came in second place with 440 million tonnes, China with 280 million tonnes, and India at 270 million tonnes.

So, how much will Simandou alter this supply balance?

Rio Tinto and other development partners are expected to generate annual output of around 90 million tonnes by 2028.

Now, compare that figure to the 2023 global production of 2,500 million tonnes.

By my calculations, Simandou will contribute around 3.6% of global supply once it reaches full production.

It’s significant but hardly warrants the headline-grabbing ‘Pilbara Killer’ label!