Iron ore price, page-44408

Simandou will just not happen.
The announcement from the Guinea interim government, what ever that this, in a country which gives banana republics a bad name is just BS. Before all the down rampers start shouting "Pilbara Killer" have a look at the official announcements from RIO, not a word about an agreement, just that talks where being held dated 18/3/2022. There is no agreement, the logistics of building the infrastructure in less than 3 years is ludicrous. It would take 10 years if they are lucky. Who will bank roll this 20 Billion AUD development?
RIO has just been shafted by the Mongolian government over the Oyu Tolgoi copper mine, RIO loaned the Mongolian government 2.5 Billion to pay for its share in the mine development, it now has written off this debt to be able to further develop the mine because the Mongolian government was unhappy with having to pay the loan back. Deal with third world governments at your peril! I doubt that RIO will stump up the cash for the Guinea government When completed all the ownership of the infrastructure will become the property of the Guinea government. If that does not sound warning bells for RIO shareholders the nothing will. Sovereign risk will see that no bank will loan funds for this project. In my opinion RIO has no intention of developing Simandou,it wants to just stand in the way and look interested to make sure no-one else starts sniffing around.
I was sad to read about the passing of Rurenga, one measure of a person is the number of people who mourn them when they pass on and the comments by contributors show that he was held with great respect by a great many people including myself.

Good Luck