November 13, 2019 / 11:37 PM / a month ago

Australia's Fortescue loses bid to develop Guinea iron ore blocks

Nov 14 (Reuters) - Australia’s Fortescue Metals Group said on Thursday its bid to develop two blocks at the giant Simandou iron ore deposit in Guinea was unsuccessful.

A China-backed consortium of French, Singaporean and Guinean interests instead won the tender through its $14 billion bid, sources told Reuters on Wednesday. (Reporting by Nikhil Kurian Nainan in Bengaluru Editing by Chris Reese)

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