Name: Iron ore’s sleeping giant – Simandou moves a step closer to development
Brand: Wood Mackenzie
SKU: 120599
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Author: Wood Mackenzie

Insight 20 November 2019

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The involvement of the SMB-Winning consortium is a big step forward for the development of Simandou North. Political considerations are paramount, but ultimately much will depend on SMB-Winning’s view of the long term outlook for seaborne iron ore. In particular, will Chinese imports hold close to 1 billion tpy and will India emerge as a major importer of iron ore within the next ten years? One or both of these outcomes is necessary to make the project economically viable.</div>
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                    <h3 class="alpha push-half--bottom">Table of contents</h3>

<li class="list__item-toggle font-semibold">
        What has happened?
    </li>

<li class="list__item-toggle font-semibold">
        What are the Simandou deposits?
    </li>

<li class="list__item-toggle font-semibold">
        Project economics
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<li class="list__item-toggle font-semibold">
        Market impact
    </li>

<li class="list__item-toggle font-semibold">
        Trans-Guinean or the highway
    </li>

<li class="list__item-toggle font-semibold">
        China all but controls Guinean economy
    </li>

<li class="list__item-toggle font-semibold">
        Summary
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<li class="list__item-toggle">
        <a href="#25f4cfa2-3b0d-4ecd-a86a-6ea7042412a3" class="js-toggle-local list__link-toggle dark-link font-semibold" role="button" aria-controls="25f4cfa2-3b0d-4ecd-a86a-6ea7042412a3" aria-expanded="false">
            Scenario analysis
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        <ul id="25f4cfa2-3b0d-4ecd-a86a-6ea7042412a3" class="panel-toggle push-half--left push-half--bottom">
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        Base case:
    </li>
    <li class="push-quarter--bottom">
        Base case plus Simandou North:
    </li>
    <li class="push-quarter--bottom">
        Scenario 1 (low Indian imports):
    </li>
    <li class="push-quarter--bottom">
        Scenario 2 (high Chinese imports):
    </li>

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<ul class="list list--bullets">
        <li class="list__item push-quarter--bottom">Guinea iron ore deposits</li><li class="list__item push-quarter--bottom">A brief history of the Simandou project</li><li class="list__item push-quarter--bottom">Iron ore contestable market cost curve 2030 (CFR China, 62% Fe fines equivalent)</li><li class="list__item push-quarter--bottom">Simandou North project economics</li><li class="list__item push-quarter--bottom">Simandou scenario analysis</li>
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<p class="font-regular" >Iron ore’s sleeping giant – Simandou moves a step closer to development</p>
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