London-based industrial metal giant Rio Tinto Group (RIO) expects to strengthen its operations by exploiting the Simandou deposit in a remote and mountainous region of Guinea. However, the project faces legal and funding challenges.
While iron ore remains RIO’s main profit source, the company is also branching out into green minerals needed for renewable technologies. In August, RIO signed a multi-year supply agreement with H2 Green Steel to provide high-grade direct reduction iron ore pellets from its Iron Ore Company of Canada (IOC) operations.
