From BBC

Rio Tinto, Chinalco and the International Finance Corporation have signed a deal to develop Guinea’s iron ore deposits.

The Simandou project, which has been delayed for years, would be the biggest iron ore and infrastructure project developed in Africa, the firms said.

The $20bn (£12bn) “investment framework” provides legal and financial backing for the project.

The framework will now go the Guinean National Assembly for ratification.

If ratified, the three parties said they would complete a feasibility study, including timeline and costs, within about a year.

President of the Republic of Guinea Alpha Conde said: “With massive infrastructure investment, this project is of critical importance for the people of Guinea.

Read more at BBC