Core Insights - The Simandou mine is the largest undeveloped iron ore mine globally, with reserves of at least 3 billion tons and an iron content exceeding 65% [1] - A new railway has commenced operations, with plans to export iron ore to China by the end of the year. The total investment for the project is $23 billion, developed in a joint venture between Rio Tinto and a Chinese consortium [1] - The first shipment of approximately 200,000 tons is scheduled for this month, with plans to ramp up production to 60 million tons annually within 30 months, collectively accounting for about 5% of global production in 2024 [1] Industry Impact - The commencement of production at the Simandou mine will enhance China's control over iron ore pricing and reshape the global iron ore landscape [2] - The project is expected to increase Guinea's GDP by over 25% [2]