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Guinea agrees to resume Simandou iron ore project

Chinese companies part of new infrastructure deal and $15bn investment

Simandou in southwest Guinea is considered to be the world’s largest high-quality iron ore deposit.

Investors in the Simandou iron ore project struck a deal with Guinea's government to resume development of the world's largest known untapped iron ore reserve after a nearly two-week suspension.

The west African country's ruling junta gave a green light to investors -- which include London-based mining giant Rio Tinto and China's state-backed aluminum giant Aluminum Corp. of China and Shandong Weiqiao Pioneering Group -- to restart operations after a framework agreement was reached to settle infrastructure disputes, local media reported.

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