The partners involved in the Simandou iron ore mining project in Guinea have met in the capital Conakry to sign an Investment Framework document, which gives the project the go-ahead.

The Government of Guinea, Rio Tinto, Chinalco and the International Finance Corporation, which is a member of the World Bank Group, have all signed the document.

The project, when completed, will incorporate a high-grade iron ore mine producing 100Mt/yr at full production; a new 650km trans-Guinean railway to transport iron ore to the Guinean coast; and a deep water multi-user port in the Forécariah prefecture.

Once operational, the Simandou mine has the potential to double the country’s current GDP.