Rio Tinto's board of directors has approved the world's largest mining project, the Simandou iron ore project. The company is expected to begin infrastructure work this year on the massive Simandou iron ore project, which will be the world's largest and highest-grade new iron ore mine.

Rio Tinto plans to invest US$6.2 billion in mining, rail, and port projects in Guinea, in partnership with five companies from China.

Due to the complexity of the project, it has been in a state of long-term negotiations. At present, the final investment approval for Rio Tinto's Chinese partners is still pending, but Rio Tinto said it would be approved soon.