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Playing Field occupied by Giants - WAI Right in the WAY >

[BaystreetBenny]

Guinea is home to some of the richest and easily exploitable iron ore fields outside of Australia's Pilbara region and top producer Vale's Brazilian home base.

In May, the Guinea government and Rio Tinto (LON:RIO) and its partners – China's Chalco together with the World Bank – inked a game-changing $20 billion deal for the southern section of the Simandou iron deposit.

At full production Rio's Simandou concession would export up to 95 million tonnes per year – that's a third of Rio's total capacity at the moment – and would catapult Rio past Vale as world number one.