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China's steel company, Baowu Resources, has acquired a controlling stake in the consortium for the Simandou iron ore project in Guinea.

Category: Blog

Time:2026-02-06

China’s steel giant Baowu Resources has increased its stake in the Winning Consortium Simandou—the operating consortium for Blocks 1 and 2 in the northern part of the Simandou iron ore project—from 49% to 51%, thereby gaining controlling interest. Following the completion of the transaction, the consortium’s Singapore-registered parent company and its Guinean subsidiary have been renamed Baowu Winning Consortium Simandou (BWCS). In Blocks 3 and 4 in the southern part of Simandou, Chinese state-owned enterprises hold stakes through a joint venture led by Chinalco, with partners including Rio Tinto and the Guinean government. This collaborative structure is known as Simfer. Baowu stated that this transaction further underscores the company’s long-term industrial and strategic commitment to what it calls “one of the world’s most significant integrated mining and infrastructure projects.” The company emphasized that it will continue to enhance the project’s competitiveness, promote local development, and strictly adhere to internationally recognized ESG standards in the future. Once fully operational, the two major mining centers of the Simandou project are expected to export up to 120 million tons of high-grade iron ore annually by sharing railway and Atlantic port infrastructure. Upon full commissioning, Guinea could join Australia and Brazil as one of the world’s leading suppliers of iron ore.

China’s steel company, Baowu Resources, has increased its stake in the Winning Consortium Simandou—the operating consortium for Blocks 1 and 2 in the northern part of the Simandou iron ore project—from 49% to 51%, thereby gaining controlling interest.
Upon completion of the transaction, the consortium’s Singapore-registered parent company and its Guinean subsidiary have been renamed Baowu Winning Consortium Simandou (BWCS).
In Blocks 3 and 4 of the southern Simandou mine, a Chinese state-owned enterprise holds a stake through a joint venture led by Chinalco. The other partners include Rio Tinto and the Guinean government. This collaborative structure is known as Simfer.
Baowu stated that this transaction further confirms the company’s long-term industrial and strategic commitment to what is described as “one of the world’s most important integrated mining and infrastructure projects.” The company emphasized that it will continue to focus on enhancing the project’s competitiveness, promoting local development, and strictly adhering to internationally recognized ESG standards.
Once fully operational, the two major mining centers of the Simandou project are expected to export up to 120 million tons of high-grade iron ore annually by sharing railway and Atlantic port infrastructure. Upon full commissioning, Guinea could join Australia and Brazil as one of the world’s leading suppliers of iron ore.

Keywords: China's steel company, Baowu Resources, has acquired a controlling stake in the consortium for the Simandou iron ore project in Guinea.

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China's steel company, Baowu Resources, has acquired a controlling stake in the consortium for the Simandou iron ore project in Guinea.

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