A non-binding agreement between the Aluminum Corp of China (Chinalco) and Rio Tinto for the former to acquire the latter's entire stake in the Simandou iron ore project in Guinea has lapsed.
"Rio Tinto and Chinalco, who respectively own 45.05% and 39.95% of Simandou, will continue to work with the government of Guinea, in West Africa, to explore other options to realize value from the world-class Simandou iron ore deposit," the miner said on Monday October 29.The Guinean government owns a 15%...