The spokesperson for the Guinean legislative body said that on Saturday, February 4, legislators approved a joint development agreement for the giant Simandou iron ore project.

The agreement signed last Saturday involves the junta-led government, Rio Tinto, and the Winning Simandou Consortium. According to Mory Dounoh, the National Transitional Council, which acts as a parliament under the interim Guinean regime, voted in favor of laws ratifying the agreement, which provides for the completion of construction by the end of 2024. Rio Tinto owns two of Simandou's four mining blocks as part of its Simfer joint venture with the Chinese company Chalco Iron Ore Holdings (CIOH) and the Guinean government. Rio Tinto has a 53% stake, while CIOH has the rest