On this day, Baowu Resources officially increased its stake from 49% to 51% in the share capital of Baowu Winning Consortium Simandou Pte. Ltd. (formerly known as Winning Consortium Simandou Pte. Ltd.), a Singapore-registered holding company owning 85% of the share capital of Winning Consortium Simandou SA, the operating company for blocks 1 and 2 of the Simandou Project. This takeover results from Baowu Resources' acquisition of an additional 2% of the share capital of Baowu Winning Consortium Simandou Pte. Ltd.
This transaction is fully in line with the long-term strategic partnership established between Baowu Resources and the Winning Consortium Simandou Group for the development of blocks 1 and 2 of the Simandou Project.
Following on from this transaction, Winning Consortium Simandou SA is changing its name to Baowu Winning Consortium Simandou SA, with the acronym BWCS SA.
This key milestone was achieved with the continued support of the Government of the Republic of Guinea, which formally approved the acquisition of this additional stake on 30 May 2024 and was duly notified of the completion of the transaction on 30 January 2026.
Through this transaction, Baowu confirms its long-term industrial and strategic commitment to one of the world's most significant integrated mining and infrastructure projects, as well as its confidence in the geological, economic and operational potential of the Simandou Project.
Alongside its partner, the Winning Consortium Simandou Group, Baowu intends to pursue, through this increased participation, an approach based on the competitiveness of the project, the promotion of local content, compliance with internationally recognised ESG standards, the sustainable economic development of the Republic of Guinea, and the desire to ensure that the positive benefits of the project provide lasting benefits to local communities, the sovereign people of the Republic of Guinea and all stakeholders.
Press contact:
Baba Hady Thiam, Thiam & Associates
babahady.thiam@thiam-associes.com
+224 623 92 66 92