XCMG and Rio Tinto Forge New Partnership for World-Class Simandou Iron Ore Project

August 21, 2024 10:29 PM AEST | By Cision
 XCMG and Rio Tinto Forge New Partnership for World-Class Simandou Iron Ore Project
Image source: Kalkine Media

Value of Over US$110 Million Contract Signed between XCMG and Rio Tinto SimFer Covers Dozens of Mining Trucks and Mining Graders for the World's Largest Untapped Reserve of High-grade Iron Ore

CONAKRY, Guinea, Aug. 21, 2024 /PRNewswire/ -- XCMG Machinery (SHE: 000425, "XCMG"), the world's leading construction equipment manufacturer, has entered into a landmark global cooperation framework agreement with Rio Tinto, the world's largest iron ore producer in Conakry, Guinea's capital. Another statement of work for the Simandou iron ore project, the world's largest untapped reserve of high-grade iron ore, has also been signed between XCMG and Rio Tinto SimFer, a joint venture between the Government of the Republic of Guinea, Rio Tinto, and Chalco Iron Ore Holdings, involving the supply of a comprehensive suite of core mining equipment valued over US$110 million, including over 34 units of 230-ton mining trucks and over dozens of large mining graders with 350 and 550 horsepower, ancillary equipment and large production loaders and excavators.

Value of Over US$110 Million Contract Signed between XCMG and Rio Tinto SimFer Covers Dozens of Mining Trucks and Mining Graders for the World’s Largest Untapped Reserve of High-grade Iron Ore.
Value of Over US$110 Million Contract Signed between XCMG and Rio Tinto SimFer Covers Dozens of Mining Trucks and Mining Graders for the World’s Largest Untapped Reserve of High-grade Iron Ore.

"This marks a new beginning of high-level friendly cooperation between XCMG and Rio Tinto and further demonstrates our leading technology and innovation capabilities in the field of heavy mining equipment." Liu Jiansen, Vice President of XCMG Machinery, expressed his enthusiasm about the collaboration. "Over the years, XCMG and Rio Tinto have developed a deep friendship through cooperation. We are honored to provide high-quality large-scale complete sets of mining equipment for the Simandou project in West Africa. We thank Rio Tinto for their trust,"

The statement of work for the mining project on-site, joining forces to assist in the mining of the Simandou project, is expected to have substantial positive impacts on local communities by creating jobs and enhancing technical skills among residents. Both companies are committed to investing in vocational training programs that will aid community development around the mining area.

Located in the southeast of the Republic of Guinea, the Simandou mountain range is home to some of the highest-grade iron ore in the world, globally making it highly significant within international mineral markets.

"Following a competitive tender process, we are pleased to award the HME contract to internationally renowned XCMG," said Chris Aitchison, Managing Director of SimFer. "This contract—with its robust provisions for community development and technical training—reflects our project partners' commitments to maximizing the benefits of the Simandou project through local content, prioritization of local employment and upskilling, and investment in vocational and technical skills."

"The Simandou project can be a key driver of growth in Guinea – catalyzing a new wave of investment, building the country's entrepreneurial fabric and supporting development across the country. Through the promotion of local content and investment in local communities—both of which are embedded in this contract award—we can unlock the project's full transformative potential." said Aboubacar Koulibaly, Head of Rio Tinto Guinée.


Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (“Kalkine Media, we or us”), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary.
The content published on Kalkine Media also includes feeds sourced from third-party providers. Kalkine does not assert any ownership rights over the content provided by these third-party sources. The inclusion of such feeds on the Website is for informational purposes only. Kalkine does not guarantee the accuracy, completeness, or reliability of the content obtained from third-party feeds. Furthermore, Kalkine Media shall not be held liable for any errors, omissions, or inaccuracies in the content obtained from third-party feeds, nor for any damages or losses arising from the use of such content.
Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyrighted to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have made reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.
This disclaimer is subject to change without notice. Users are advised to review this disclaimer periodically for any updates or modifications.


AU_advertise

Advertise your brand on Kalkine Media

Sponsored Articles


Investing Ideas

Previous Next
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.