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英国《金融时报》:力拓集团11-13亿美元转让其在几内亚西芒杜铁矿项目的股权给中国铝业

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原标题:英国《金融时报》:力拓集团11-13亿美元转让其在几内亚西芒杜铁矿项目的股权给中国铝业

英国《金融时报》:力拓集团11-13亿美元转让其在几内亚西芒杜铁矿项目的股权给中国铝业

英国《金融时报》10月29日报道,10月28日,力拓与中铝在北京达成转让框架协议,英国-澳大利亚矿业巨头力拓集团RIO TINTO以11-13亿美元的价格将力拓在几内亚西芒杜铁矿项目里的股权转让给中国铝业集团。

根据力拓与中铝达成股权转让协议,随着西芒杜铁矿项目的逐步商业化开采,力拓将逐步分笔收到11-13亿美元的股权转让费。股权转让费目标价格确定在11-13亿美元之间,具体金额取决于西芒杜铁矿商业化开采后的经济效益。

新闻背景:

在此次股权转让之前,力拓在西芒杜铁矿开发公司(SIMFER SA)里持股46.6%,系第一大股东。中铝是第二大股东。几内亚政府持有15%的干股成为第三大股东,几政府授权几内亚国家矿产资源管理公司(SOGUIPAMI)负责这15%干股的管理和代理;世界银行下属的国际金融公司(International Finances Corp, IFC)持股4,6%,是第四大股东。

此次转让交割结束之后,西芒杜铁矿开发公司(SIMFER SA)将剩下3个股东:中国铝业、几内亚政府、国际金融公司。

驻几内亚使馆经商处

2016年10月30日

Rio Tinto agrees $1.3bn sale of Simandou stake to Chinalco

Financial Times

29 October 2016

Rio Tinto announced on Friday it had agreed to sell its stake in the giant Simandou iron ore project in Guinea for up to $1.3bn to Chinalco, in a deal that could see the Chinese group take on development of the world’s largest untapped resource of the steelmaking ingredient.

The Anglo-Australian mining company’s planned sale of its 46.6 per cent stake in the Guinea project marks an admission of defeat two decades after it persuaded the then dictator Lansana Conté to grant rights to prospect a mountainous zone.

Rio discovered a vast deposit of iron ore deep in Guinea’s eastern forests — arguably the best untapped reserve in the world.

The company then battled repeated legal and political challenges to its claim to Simandou only to see the collapse of the iron ore price render one of Africa’s most ambitious industrial projects uneconomic.

Rio is due to receive between $1.1bn and $1.3bn for its stake in Simandou, with payments to commence with commercial production. The final size of the payments will be based on the project’s output.

Simandou requires huge investment in infrastructure, including a 650km railway line and a port, at a time when mining companies such as Rio are cutting costs following a decline in commodities prices. Estimates of developing the project have been put at $20bn.

Rio’s rights to the northern half of Simandou were confiscated by the Guinean government and handed to BSG Resources, the mining arm of Israeli tycoon Beny Steinmetz’s business empire, in 2008.

Then in April 2014 the government cancelled the rights held by BSGR and Vale, its Brazilian mining partner, after a two-year inquiry found the former company had won them through corruption.

BSGR denies the allegations and has begun arbitration proceedings against Guinea.

The Guinean inquiry cleared Vale of any involvement in the alleged corruption, and the Brazilian group has launched a compensation claim against BSGR.

Rio’s exit from Simandou comes after Jean-Sébastien Jacques became chief executive in July, having previously led its copper and coal operations.

Under Mr Jacques, Rio has focused its capital spending on the underground part of its giant Oyu Tolgoi copper mine in Mongolia, as demand for the metal is expected to increase during a supply shortage anticipated after 2020.

英国路透社的报道Rio Tinto set to quit Guinea iron ore project with sale to Chinalco

Reuters

Rio Tinto (RIO.AX)(RIO.L) has signed a preliminary deal to sell its stake in Guinea's Simandou project to Chinalco (3668.HK), it said on Friday, injecting impetus into the long-stalled scheme to develop the world's largest untapped iron ore reserves.

For all the project's potential, mining company Rio has voiced frustration over the difficulty of drumming up financing and industry sources said the agreement could open the door to Chinese funding.

China, the world's largest iron ore consumer, provides an obvious market for Simandou, which Guinea is counting on to spur economic growth after the West African country was hit by a crippling Ebola epidemic.

When fully operational, Simandou could double Guinea's GDP, project partners have said.

Guinea's Minister of Mines and Geology, Abdoulaye Magassouba, welcomed the deal and called for the creation of a joint working group with Chinalco to drive the scheme forward.

"This is a very positive event for the project, but we still have long months of work and significant challenges to overcome for the effective relaunching of the project," he said in a statement.

Rio has a 46.6 percent stake in Simandou , while state-owned Chinese metals producer Chinalco has 41.3 percent and the Guinea government 7.5 percent.

If the deal to sell out to Chinalco goes ahead, Rio Tinto will receive payments of between $1.1 billion and $1.3 billion based on the timing of the project's development, it said in a statement, adding that the aim was to seal a final deal in less than six months.

Rio Tinto CEO Jean-Sebastien Jacques said in August that there had been no progress on finding infrastructure funding for Simandou and in October the International Finance Corporation (IFC), an arm of the World Bank, said it was withdrawing from the project.

'GREAT OUTCOME'

Rio's London-listed shares were up 0.9 percent at 28.20 pounds at 0939 ET, outperforming a 0.2 percent gain for the wider sector. .FTNMX1770

Analysts said the deal was bullish for Rio, citing the difficulty of financing the project and uncertainty about when production would start.

David Butler, analyst at Barclays, said the prospect of recovering more than a $1 bln from Rio's stake "is a great outcome".

ALSO IN DEALS

Over the course of its involvement in Simandou, Rio says it has spent about $1.4 billion out of the project's total investment so far of about $3.5 billion.

One of the many issues has been doubt over demand for iron ore because the steel market, the main user of the raw material, is chronically oversupplied.

Rio's new boss, who took over in June from a CEO with a track record in iron ore, has earned kudos for his Oyu Tolgoi project in Mongolia, which when completed will be the world's third-biggest copper mine.

Analysts and investors have interpreted Jacques' background as suggesting a shift from iron ore and increased focus on copper.

In a speech in London on Friday after returning from a trip to China, Jacques said that progress towards a more sustainable economy and a rise in the use of electric cars could create a surge in demand for copper.

(Additional reporting by Eric Onstad in London and Saliou Samb in Conakry; Editing by David Goodman)

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