Simandou: SMB and Fortescue attempt to lure Alpha Condé
The giant Guinean iron ore deposit has attracted the interest of three mining companies following the call for tenders for blocks 1 and 2 by the government last July. In addition to the SMB Winning consortium and the colossal Fortescue Metals Group (FMG), Jeune Afrique Business+ learned that Brazil’s Vale has also paid for documents needed to submit a bid for blocks 1 and 2, but decided not to do so.
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▪ Simandou: SMB and Fortescue attempt to lure Alpha Condé
▪ The giant Guinean iron ore deposit has attracted the interest of three mining companies following the call for tenders for blocks 1 and 2 by the government last July. In addition to the SMB Winning consortium and the colossal Fortescue Metals Group (FMG), Jeune Afrique Business+ learned that Brazil’s Vale has also paid for documents needed to submit a bid for blocks 1 and 2, but decided not to do so.
▪ https://www.africabusinessplus.com/en/799285/simandou-smb-and-fortescue-attempt-to-lure-alpha-conde/
The two blocks, previously controlled by BSGR, a company owned by controversial businessman Beny Steinmetz, fell into the hands of the Guinean State in February 2019. Conakry decided to put it back on the market after iron ore prices topped off at more than $100 per tonne in May (prices have since fallen to around $90). Some $300,000 – a price that limited the playing field to only the most serious contenders – had to be paid to obtain the terms and conditions for participation in the call for tenders which launched in July and closed on 2 October.
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