The magnetic pull of Guinea's north pole

Glencore is just one of a line of contenders for Simandou North, though it would be most logical for Guinea to look at ways to develop the sought-after iron ore deposit in conjunction with its southern half.

With the Guinean government having stripped Value and Israel’s Beny Steinmetz’s BSGR group of their controversially acquired rights to the Simandou North iron ore province earlier this year, a queue of major miners appears to be forming to replace them.

The Wall Street Journal reported on Friday that Glencore executives met senior Guinean government officials last month to express interests in the deposit.

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