Simandou: Rio Tinto Simfer to take 34% stake in WCS Port HoldCo & WCS Rail HoldCo
Africa Business+ reveals the final steps before work resumes in March on Guinea’s iconic iron project.
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▪ Simandou: Rio Tinto Simfer to take 34% stake in WCS Port HoldCo & WCS Rail HoldCo
▪ Africa Business+ reveals the final steps before work resumes in March on Guinea’s iconic iron project.
▪ https://www.africabusinessplus.com/en/814631/simandou-rio-tinto-simfer-takes-34-stake-in-wcs-port-holdco-wcs-rail-holdco/
The coming weeks will be very busy for the various partners of the Simandou project. Three transactional documents need to be finalised by beginning of March inclusing the Compagnie du Transguinéen (CTG) shareholder agreement, the tripartite co-development agreement with the State, and Rio Tinto Simfer’s 34% investment agreement in the railway and port companies of the Winning Consortium Simandou (WCS). This will be followed by Chinese giant Baowu Steel acquiring part of WCS and CTG’s shareholding and the financing closing.
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