Rio Tinto Is Working Hard to Find Right Solution for Simandou Project, Says CEO
23 February 2022 - 09:14PM
Dow Jones News
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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