The world’s largest undeveloped iron ore deposit is located in the hinterland of Guinea. After corruption scandals and a long struggle, it could actually still be used. The saga is being continued mainly by China.
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China is the world’s largest buyer of iron ore. In the picture iron ore from Australia in the port of Tianjin.
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The conviction of the commodity magnate Beny Steinmetz in Geneva for corruption is not the end point in the saga about the huge Simandou iron ore deposit in Guinea. Apart from the fact that Steinmetz appealed, nothing is being mined about twenty years after the discovery of high-grade iron ore in the West African country by the mining giant Rio Tinto.
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