Rio Tinto has obtained all necessary approvals for its significant investment in the Simandou iron-ore deposit in Guinea, including regulatory clearances from both Guinean and Chinese authorities. This milestone coincides with a reported increase in second-quarter iron-ore shipments from the company's Australian operations.

Simandou, located in Guinea's mountains, holds the world's largest untapped high-grade iron-ore deposit. Rio Tinto, in partnership with a Chinese consortium led by Aluminum Corp. of China, plans to invest approximately US$6.2 billion in the project, covering essential port and rail infrastructure. The project will be the largest new integrated mine and infrastructure investment in Africa.

In Australia, Rio Tinto shipped 80.3 million metric tons of iron ore from its Pilbara region in the second quarter, a 2% increase year-over-year despite a May derailment of a driverless train. The company compensated by selling more from its port stockpiles.

Rio Tinto operates 17 iron-ore mines in Pilbara, alongside 1,200 miles of rail lines and four port terminals. The company maintains its 2024 shipment target of 323-338 million tons of iron ore but has revised its production guidance for other commodities, including copper and alumina, due to operational challenges at the Kennecott operation and gas supply disruptions in eastern Australia.