The first shipment of iron ore from Guinea’s US$20 billion Simandou mine will be flagged off with the project’s inauguration on Tuesday, a development that is set to reshape global supply and pricing once commercial exports reach full capacity.
Most of the steelmaking resource extracted from Simandou – the world’s largest known undeveloped reserve of high-grade iron ore – is expected to go to China, given the heavy investments by Chinese firms in the project.
However, as railway and port…