Bit more in the AFR after the bell late today. But CRU’s steel...

Bit more in the AFR after the bell late today.


But CRU’s steel sector analyst Andrew Gadd said he did not believe the events of the past week would help Guinea become a major iron ore exporter.“Geopolitical risk has been one of many hurdles hindering progress of Simandou up until now and the military coup that is now unfolding in the country marks a significant deterioration in the prospects for successful development of the deposit,” he said.“Sourcing the finances for Simandou has proved very difficult and the uncertainty generated by the current developments will challenge the commitment of interested parties.”The cost of building rail and port infrastructure to service Simandou was once estimated to be $US12 billion, with the Guinean government traditionally insisting the railway run for about 650 kilometres through the full length of the nation rather than take shorter routes to the coast through neighbouring countries such as Liberia or Sierra Leone.