Development banks seek to revive world’s biggest power project
The planned Grand Inga hydropower complex in the DRC has been stalled for decades.
Rio Tinto’s $US10 billion-plus Simandou iron ore project in Guinea is rapidly pressing ahead, but not like a typical giant development by the Anglo-Australian mining giant.
By the end of the year, Rio is expected to have spent close to $US2bn ($1.9bn) on Simandou, including a $US700 million settlement payment to the government, and to begin construction of a project it has committed to produce from in 2015.
