Anglo-Australian mining giant Rio Tinto has submitted feasibility studies to the Guinean government for its massive Simandou project, considered the world's biggest untapped iron ore deposit.
The studies are a further step towards bringing onstream a deposit that holds more than 2 billion tonnes. The real cost of the project has yet to be revealed but it is tipped to reach $20 billion.
It could make Guinea one of the world's top iron ore exporters, but analysts caution the world already has a surplus of iron ore for the foreseeable future.
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