China’s Baowu Resources has become the lead operator of Guinea’s Simandou Blocks 1 and 2. By increasing its stake in the Winning Consortium Simandou from 49% to 51%, the world’s largest steelmaker now holds a majority share in the Singapore-registered entity, now renamed Baowu Winning Consortium Simandou (BWCS).

The deal, finalized on January 30, 2026, strengthens China’s presence in the region. BWCS manages 85% of the operating company for its blocks, while the southern Blocks 3 and 4 are operated by the Simfer partnership, which includes a Chinalco-led venture, Rio Tinto, and the Guinean government. These parties co-developed the rail and port infrastructure used for initial shipments last November.

With a target capacity of 120 million metric tons of high-grade iron ore annually, the project establishes Guinea as a top global iron ore exporter alongside Australia and Brazil.