Stability of a steady supply of iron ore is the industry's important issues - Car Seat Rotating

Aluminum Corporation and Rio Tinto will jointly Simandou this world-class iron ore project development contributions to their respective strengths and power. The two sides will accelerate the project development, XIONG Wei-ping, general manager of the Aluminum Company, said: through this transaction. The achievement of project investment value. I believe the victory Simandou project development will be able to effectively increase global iron ore supply, and the promotion of global iron ore industry, temporary, stable and healthy development.
Reporter learned from the company, People Beijing March 19 Xinhua today. Aluminum Corporation of China, today announced the Group signed a non-binding memorandum of understanding, the two sides will jointly develop Rio Tinto held in Guinea in West Africa, a world-class iron ore project Simandou. Aluminum company has invested 1.35 billion, the project has Simandou the real interests of 44.65% for the real interests of Rio Tinto for 50.35%
Aluminum Corporation and Rio Tinto by 47%: 53% stake in the proportion of joint venture, it is learned. Simandou project holds 95% stake (the remaining 5% stake in the project held by the International Finance Corporation), the Aluminum Company will be phased into the joint venture capital funds totaling 1.35 billion U.S. dollars to obtain the above-mentioned shares. The inputs for Simandou project follow-up project demonstration and development. The total investment scale of project feasibility study will be determined after a speech.
The Aluminum Company took part in the management. Aluminum Company will depend on the need to introduce railways, ports, iron and steel enterprises and financial institutions and other Chinese members of the Commonwealth, in the aluminum companies and Rio Tinto will each appoint to the joint venture company's board of directors 3. Rio Tinto will be responsible for operation of the project. Participate in the project construction and development.
The two sides will set up a joint venture sales company to the project's iron ore products sold to the Chinese market orientation. China Aluminum Corporation and Rio Tinto will be held as soon as possible after the signing of this Memorandum of Understanding reached by a formal cooperation agreement, China Aluminum Corporation and Rio Tinto is expected to Simandou the first phase of the project is put into production of iron ore production capacity of not less than 70 million tons / year. And to fulfill the requirements to meet the relevant laws and regulations for approval.
A world-class open-air large-scale high-quality hematite. According to data published by Rio Tinto, Simandou iron ore projects are located in Guinea, West Africa. Has control and inferred iron ore reserves of more than 2.25 billion tons, the total amount of resources may be as high as 50 million tons. Has been the exploration of ore grade of between 66-67% completion of the project company will become the world's leading iron ore producer, so the victory of the development project for the global iron ore industry is of great significance.
In line with the aluminum company's proposed 'international multi-metal mining companies' established development strategies. Worldwide participate in high quality, low-capital, long life high quality investment in mining projects in the aluminum companies consistently uphold the standards of the commercial investment, this transaction is in the aluminum companies to step in but also the pace of internationalization. Shares Simandou ways the project has once again demonstrated in the aluminum company's market-oriented, business-oriented operation effort and practice. China Aluminum Co., Ltd. and Rio Tinto in corporate governance to achieve a reasonable arrangement, both the clear responsibilities of project managers, but also protect the aluminum company as the interests of investors.

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