Within the framework of the exploitation of the immense Simandou iron deposit (south-east), a framework agreement of 15 billion dollars was signed between the Guinean State, Winning Consortium and Rio Tinto Simfer.

The three-party agreement, lasting 35 years, provides for co-development between Rio Tinto with its subsidiary Simfer (block 3 and 4) and Winning Consortium (block 1 and 2). The Anglo-Australian Rio Tinto is allied with Chinalco in a joint venture for the exploitation of the deposit and the Singaporean Winning Shipping with the Chinese aluminum producer Shandong Weiqiao, the Yantaï Port group and the Guinean company United Mining Supply.

The contract concerns "infrastructure, mining development, the port", according to Fadi Wazni, head of Winning Consortium, speaking to RTG. It provides for the construction of a railway of about 670 km to connect the mining corridor to an ore port on the Guinean coast south of Conakry. The railway and deep-water port are expected to be completed in December 2024, under the terms of the agreement announced to RTG. And the first commercial production should see the light of day no later than March 31, 2025.