Rio Tinto’s Next CEO Will Be Tested by Awkward Africa Decision

is among the world’s largest untapped deposits of the commodity. Its riches have long been coveted by global miners and investors competing to exploit booming demand for a commodity used to make steel.

Chinese companies are pushing hard to develop Simandou after a consortium including a unit of aluminum maker China Hongqiao Group Ltd. and port operator Yantai Port Group Co. secured rights to mine the northern half of the deposit in a $14 billion tender late last year. Rio Tinto and partners own the southern half, but they could save billions of dollars in construction costs if they collaborate.

Rio Tinto’s decision boils down to whether it wants to be involved in a project that could put pressure on iron-ore prices by increasing global supply of the commodity. A 2014 study by the company put the cost of developing the southern half of Simandou at $20 billion. Political risk in West Africa is also high.

If there is money to be made no one cares, they just have to pretend to, make some noise about oppression and equality and then just carry right on along. Worked very well during apartheid.

Perhaps the reality is China needs to focus on procuring, dispensing, and trading it's own resources and leave other countries or continents resources well alone. I think that would be simple to understand whatever economic drivel they're Criminalclass are peddling.

Still singing songs of china

Is great_martis the next CEO? 🤔

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