Ivanhoe, QIA deepen minerals alliance

Ivanhoe Mines has formalised a new partnership framework with Qatar Investment Authority (QIA) following the sovereign fund’s recent US$500mn strategic investment in the company.

The MoU was concluded during the visit of His Highness The Amir of Qatar, Sheikh Tamim bin Hamad Al-Thani, to the Democratic Republic of the Congo (DRC). During his trip, the Amir held discussions with DRC President Félix Tshisekedi on strengthening ties between the two nations, creating the backdrop for the Ivanhoe–QIA agreement.

Under the terms of the MoU, Ivanhoe Mines and QIA have established a broad framework intended to support the discovery, responsible development and long-term supply of critical minerals required for global decarbonisation and next-generation technologies.

Commenting on the agreement, Robert Friedland said, “The signing of the MoU, together with the strategic investment by the Qatar Investment Authority, is a strong vote of confidence in Ivanhoe Mines and our mission to supply the strategic metals that power global electrification and the rise of AI and large-scale datacentres. We are excited to build this long-term, world-class alliance as we unlock new frontiers in our hunt for the next generation of great discoveries, which we will sustainably mine together.”

QIA CEO Mohammed Saif Al-Sowaidi added, “This MoU is a testament of QIA’s commitment to building strategic partnerships with leading suppliers of critical minerals, supporting global efforts to develop new energy infrastructure and power advanced technologies. We are delighted to be working with Ivanhoe Mines and look forward to further growing our partnership, aimed at generating long-term, sustainable prosperity.”

The cooperation framework specifically recognises QIA’s support for Ivanhoe’s ongoing exploration and development pipeline, including the company’s substantial activities at the Western Forelands project in the DRC, where work continues to advance the Makoko District and other promising targets.

Both parties also intend to explore additional joint opportunities across regions of shared interest, covering mining ventures at various stages of development. Potential areas of collaboration include investment or financing agreements, access to QIA’s network of financial institutions for favourable funding of critical minerals projects, and joint consideration of future strategic mergers and acquisitions.

The MoU further sets out avenues for cooperation on enabling infrastructure—such as logistics, energy and water systems—as well as possible downstream initiatives, including smelting and refining capacity for critical minerals in Africa and other global jurisdictions.

Guinea’s Simandou project enters the next stage (Image source: Baowu Resources)

One of the world’s largest mining and infrastructure ventures marked a milestone this week with the start of operations at Simandou in Guinea

The major project partners from the Chinese-led scheme, including WCS, Baowu, Chinalco as well as Rio Tinto, took part in a ceremony at the port in Forécariah prefecture to celebrate the launch of what is Africa’s largest greenfield integrated mine and infrastructure project.

WCS is a consortium between Winning International Group and Weiqiao Aluminium (part of the China Hongqiao Group) and United Mining Suppliers (collectively 51%) and Baowu Resources (49%).

“This milestone reflects years of hard work and strong partnership,” said Winning Consortium chairman Sun Xiushun. “Winning Consortium is proud to have delivered on our commitment and to stand with our partners in bringing Simandou into operation.”

The project is delivering more than 600 kilometres of new multi-use trans-Guinean rail together with barge and transhipment vessel port facilities.

Following commissioning and ramp up, this infrastructure will support the export of a combined total of up to 120 million tonnes per year of mined iron ore by SimFer and WCS from their respective Simandou mining concessions in the southeast of the country.

The Simfer joint venture comprises Simfer S.A., the holder of Simandou South Blocks 3 & 4, which is owned by the government (15%) and Simfer Jersey Limited (85%) — itself a joint venture between Rio Tinto and Chalco Iron Ore Holdings.

Chalco Iron Ore Holdings is a Chinalco-led joint venture of leading Chinese state-owned enterprises, including Chinalco, Baowu, China Rail Construction Corporation and China Harbour Engineering Company.

“The start of operations of the Simandou project is an important achievement guided by the consensus reached by the heads of state of the two countries, noted Chinalco’s president Wang Shilei.

“It reflects the joint efforts and pragmatic cooperation between China and Guinea, contributing to Guinea’s industrialisation and modernisation process.”

Shilei added that Chinalco is committed to working together with all partners to “fully implement the outcomes of the Summit of the Forum on China-Africa Cooperation in Beijing, advance the high-quality development of the Simandou iron ore project, take concrete actions to deliver on the Belt and Road Initiative, and promote the continued deepening of the comprehensive strategic partnership between China and Guinea.”

Testing and commissioning of the mine, rail and barge port system infrastructure is now underway, with both WCS and SimFer having commenced the transport of iron ore from mine gate to the port via the trans-Guinean rail line.

Once commissioned, all co-developed infrastructure and rolling stock will be transferred to and operated by the Compagnie du TransGuinéen (CTG), in which Simfer and WCS each hold a 42.5% equity stake, with the government holding the remaining 15%.

Rio Tinto’s CEO Simon Trott said the achievement has been made possible through the hard work of thousands of colleagues, and the complementary strengths and expertise of the company and its various partners.

“Today we are unlocking an exceptional new source of high-grade iron ore that is in demand from customers for low-carbon steel making, enhancing our world-class portfolio of iron ore mines in the Pilbara and Canada.”

Hu Wangming, chairman of China Baowu Group, added that the start of operations marks a “milestone” in the history of the global mining industry.

“Throughout the development process, all parties have maintained a broad perspective and a long-term vision, adhering to the principles of market orientation, rule of law, and internationalisation, ensuring the project’s advancement with high standards and high quality,” Wangming said.

“The stable supply of Simandou’s premium iron ore resources will provide a solid foundation of low carbon raw materials for the development of China’s steel industry and the global steel sector.”

Djiba Diakité, Minister and Chief of Staff to the President and chairman of the Simandou 2040 Strategic Committee, hailed the project as a “driving force” behind national transformation.

“This collective success reflects the vision of the head of state and the determination of an entire nation to build a future of shared prosperity. This inauguration marks a foundational milestone for Guinea, which now stands as a key player in sustainable development and economic sovereignty in West Africa.”

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Hitachi powering change in South Africa's mines. (Image source: Hitachi)

Hitachi Construction Machinery and Hitachi Industrial Products have announced plans for a hybrid dump truck demonstration test project at a South African mining site, as part of an initiative of the United Nations Industrial Development Organisation (UNIDO)

The project was selected on 2nd November for inclusion in UNIDO’s industrial cooperation in the Global South through technology transfer from Japan programme.

Hitachi cites reductions in fuel costs and CO2 emissions that together will contribute to the development of the countries of the Global South through Japanese technology.

The hybrid dump truck will be working at an undisclosed mine site in South Africa’s Limpopo Province.

UNIDO is conducting the programme to promote technological innovation, strengthen supply chains and establish industrial infrastructure in Global South countries by supporting Japanese firms in conducting large-scale demonstrations, funded by Japan’s Ministry of Economy, Trade and Industry.

“Numerous pieces of mining machinery operate at mining sites, and most are powered by diesel engines,” the Hitachi companies said in a media statement.

“Diesel fuel is the primary cost factor in mine operations, and reducing fuel consumption has been a challenge for many years.”

In addition, it added, the CO2 emissions generated by dump trucks account for more than 50% of the total emissions from mining machinery in operation at mines in many cases, which makes reducing environmental impact an “urgent issue”.

To address these challenges, the project will manufacture a hybrid dump truck for demonstration testing based on an electrically driven EH4000AC-3 rigid dump truck that uses a diesel engine as its power source.

The demonstration truck will be equipped with an AC drive system manufactured by Hitachi Industrial Products, which operates using electricity generated by a diesel engine and electricity recovered through regenerative braking and stored in onboard batteries.

As part of the implementation, Hitachi Construction Machinery will provide training on the repair and maintenance of hybrid dump trucks to service personnel in South Africa, as well as locally transfer knowledge and conduct human resource development.

“Compared to the existing EH4000AC-3, the demonstration test dump truck reduces both fuel consumption and CO2 emissions by 10% or more, which helps reduce lifecycle costs and the environmental impact in mining operations,” the Hitachi statement added.

“In addition, the use of HVO (hydrotreated vegetable oil) may theoretically reduce CO2 emissions by up to 90%, which has the technical potential to accelerate decarbonisation efforts.”

Furthermore, it added, the ability to retrofit existing dump trucks into hybrid dump trucks will enable mining companies to effectively utilise the assets that they own and support the realisation of sustainable operations.

Hitachi Construction Machinery has also promoted the joint development and demonstration testing of full battery dump trucks to realise net zero emissions at mining sites.

“Hitachi Industrial Products will contribute to improving environmental performance — such as better vehicle fuel efficiency and reduced CO2 emissions — by adding service offerings that utilise battery power for AC drive systems in the existing installed base,” the company added.

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