Baowu Takes Majority Stake in Winning Consortium’s Simandou Iron Ore Mine

After successfully receiving the first batch of high-grade iron ore from its mine in #Simandou, Baowu (SSE: 600019) has decided to take control over the Winning Consortium, which operates a large-scale iron ore mine at Simandou in Guinea.

On 30 January 2026, Baowu announced that it has raised its stake in the Winning Consortium from 49% to 51%. The new #JV has been renamed as Baowu Winning Consortium Simandou.

“The deal confirms ‌our long-term industrial and strategic commitment to one of the world’s most significant integrated ​mining and infrastructure projects. Baowu will pursue project competitiveness, the promotion of local content, and compliance with internationally recognized #ESG standards.”

Baowu Spokesperson

The intent was signaled to the Guinean authorities on 30 May 2024, and the approval process was formally completed on 30 January 2026. The Chinese authorities had already approved the takeover as that was the original intent.

The Baowu Winning Consortium Simandou owns and operates Blocks 1 and 2 at Simandou, while the SimFer Consortium has Blocks 3 and 4. The SimFer Consortium is mainly a JV between Chinalco and Rio Tinto.