By Rhiannon Hoyle 
 

Rio Tinto PLC isn't saying too much about its Simandou iron-ore project in Guinea because the miner "really working hard on trying to find the right solution," Chief Executive Jakob Stausholm says.

There are "intense discussions" with officials and partners, he tells analysts. "But it is big, and it is complex."

He says Rio Tinto is hoping to make "some good progress" on the project this year, and remains keen to be involved, but highlights that it needs to be undertaken with certain ESG standards for Rio Tinto to participate.

Rio Tinto is facing a decision on whether to help develop the Simandou iron-ore deposit, in which it owns a stake. Chinese companies are pushing to develop Simandou's ore, which would require a 400-mile railway to the coast.

 

Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com

 

(END) Dow Jones Newswires

February 23, 2022 04:59 ET (09:59 GMT)

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