![](https://www.mining.com/wp-content/uploads/2016/05/rio-tinto-simandou.jpg)
Iron ore surges past $55 as Rio Tinto exits Simandou
The price increase comes as iron ore major Rio Tinto decided to put its Simandou project in Guinea on ice due to the iron ore glut that is keeping a lid on prices.
The price increase comes as iron ore major Rio Tinto decided to put its Simandou project in Guinea on ice due to the iron ore glut that is keeping a lid on prices.
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