Rio Tinto plans to ship the first iron ore from Guinea’s Simandou project in November, marking a major milestone for the world’s largest high-grade iron ore mine. 

The project, set to produce 120 million tons annually, is 75% controlled by Chinese firms, with Rio Tinto holding the remaining 25%. 

Separately, Rio Tinto finalized a US$399 million deal to sell a 30% stake in its Winu copper-gold project in Australia to Japan’s Sumitomo Metal Mining (SMM). The Winu project, discovered in 2017, contains an estimated 741 million tons of resources, including copper and gold. 

Rio Tinto is now progressing with a pre-feasibility study for a mill capable of processing 10 million tons per year.