By Clara Denina LONDON (Reuters) - Rio Tinto has been solely funding preparatory work at the blocks it holds at Simandou, one of the world's largest ...
By Clara Denina LONDON - Rio Tinto has been solely funding preparatory work at the blocks it holds at Simandou, one of the world's largest untapped iron ore deposits, as its Chinese partnersSaltWire's Atlantic regional weather forecast for September 18, 2023 | SaltWireLONDON - Rio Tinto has been solely funding preparatory work at the blocks it holds at Simandou, one of the world's largest untapped iron ore deposits, as its Chinese partners are yet to make their funds available, two...
CIOH is 75% held by Aluminum Corporation of China and 20% by Baowu Steel Group, with China Railway Construction Corporation and China Harbour Engineering Company each holding 2.5%. Most Chinese companies are backed or owned by state entities, their financial approvals complicated by convoluted structures amid an economic slowdown that has seen the world's second-largest economy struggle after a brief post-COVID recovery.
Simandou's other two blocks are owned by the Winning Consortium Simandou , made up of Singapore-based Winning International Group, Weiqiao Aluminium - part of the China Hongqiao Group - and United Mining Suppliers.
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