Jump to content
Create New...

Fatal accident forces Winning to halt iron ore mine at Simandou

ExpertFX Podcast - No time to read? Let me read it for you. Press Play!

Winning Consortium Simandou (WCS), the mining company that’s developing Blocks 1 and 2 of the massive Simandou iron ore project in Guinea, has halted operations after a fatal accident killed three foreign workers.

WCS, a Singapore-based firm developing Blocks 1 and 2 of the project in the Kérouané province, confirmed the incident and halted activity to review safety protocols. “Emergency procedures were immediately activated, and medical teams at the local hospital made every effort,” the company said in a statement, without providing details about the cause of the accident.

The incident brings the total number of fatalities at Simandou to 14 since November 2023. An investigation is underway, and operations will resume only when safety conditions are fully assured, Bloomberg News reported.

This is the second fatality-linked shutdown at Simandou in less than two months. In late August, Rio Tinto and its partner Chinalco suspended activity at their Simfer site in the southern section of the range after a contract worker died.

Simandou is home to the world’s largest known untapped deposit of high-grade iron ore, estimated at 2.4 billion tonnes. The site is divided into four blocks. While WCS oversees the northern half, Rio Tinto and Chinese state-owned Chinalco, in partnership with the Government of Guinea, are developing Blocks 3 and 4.

World’s highest grade ore

Once operational, Simandou is expected to become the world’s largest and highest-grade new iron ore mine, producing 120 million tonnes of premium ore annually, with first ore in the Rio Tinto-controlled area targeted for November. The deposit contains ore with an iron content of around 65%, prized for its efficiency in steelmaking and lower environmental impact.

Rio Tinto first secured exploration rights to Simandou in 1997. Progress has been repeatedly delayed by political instability, including two coups, four heads of state, and three presidential elections.

The broader project includes a 600-kilometre railway and a new deep-water port on Guinea’s Atlantic coast. Rio Tinto will operate one of the two mines supplying the infrastructure.

Simandou remains a flagship project for Guinea, holding major economic promise through job creation, infrastructure development, and increased export revenue.

Latest comments

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Terminal Visitor
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

TRADING HUB
● MARKET OPEN
Loading...
RETAILS SENTIMENT
INVERSE
  • Loading...


×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use of Use and Privacy Policy

Search In
  • More options...
Find results that contain...
Find results in...

Write what you are looking for and press enter or click the search icon to begin your search

Live Global Sessions
Real-time NYSE Data Feed
Enjoying ExpertFX? 📈
Your review helps our community grow. Rate the app in seconds.