Chinese Vice Premier Liu Guozhong this week attended the commissioning ceremony of the Simandou iron ore project in Guinea.

The Simandou project, which is 75% controlled by China, is expected to have an annual production capacity of 120 million metric tons, making it the world's largest high-grade iron ore mine. 

The project has an iron content of 65% and is targeted at the high-end market for producing low-carbon and environmentally friendly steel.

The Vice Premier described the project as a product of nearly 70 years of friendship and cooperation between China, Guinea, and Africa, stating that it will contribute to Guinea's economic development and the implementation of the "Simandou 2040" strategy. 

Besides, the chairman of Baowu Steel Group mentioned that the project will provide green raw materials for the steel industry in China and globally.