Mali frees Resolute executives after $160 million deal, AFP reports
The three executives, including CEO Terry Holohan, were freed from detention on Wednesday.
Guinea’s government and its partners in the Simandou infrastructure and mine restarted construction works at the world’s biggest untapped reserve of iron ore.
The $15 billion project, which includes a railway and port, was restarted Saturday, almost one year after operations were suspended. It was officially launched by the ruling junta leader Colonel Mamadi Doumbouya at a ceremony in Moribaya, at least 100 km south of the capital Conakry.
Simandou is part-owned by Rio Tinto Group and Winning Consortium Simandou, which is backed by Chinese and Singaporean companies. Recent negotiations allowed China Baowu Steel Group to enter in the project so as to accelerate the financing.
“My ambition is for the Simandou project to serve as real catalyst for the economic development of Guinea, and allow the country to become a major player in the world iron ore market,” Doumbouya said in a speech.
He urged the companies involved to accelerate the project.
(By Ougna Camara)
3 Comments
Joseph
Interested in learning about sustainable mining
Habib
Excellent
Abu M. Kamara
Africa is the repository of the world’s top minerals, but yet still it can not recover from the belly of poverty. Why? Why? & Why?