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After many twists and turns, Rio Tinto and Chinalco (10.81, 0.00, 0.00%) plan to jointly invest in the Ximandu iron ore project in Guinea, and finally hope that the "yellow light" will become "green light." The Simandou Iron Mine is known as the world's most promising unmined mine. Rio Tinto once owned the mining rights of the entire Simandou area. However, the Guinean government deprived Rio Tinto of No. 1 in the north of Simandou in 2008. And the right to develop the No. 2 mining area, the reason is that Rio Tinto develops the block slowly. Since then, although the Guinean government has threatened to deprive its mining rights in the 3rd and 4th mines in the south of Simandou, Rio Tinto has not given up its expansion in this area. Rio Tinto also took the initiative of its largest shareholder, Chinalco, to participate in the development of this project. At present, Chinalco (601600.SH) has announced the establishment of a joint venture with Rio Tinto to jointly develop and operate the Simandou iron mine in Guinea. However, when the two parties signed an agreement, the mining of this project has not yet been officially approved by the Guinean government. Today, Rio Tinto's insistence has finally yielded something. In a statement obtained yesterday by the reporter, Rio Tinto said that it would pay the Guinean government $700 million to obtain the mining rights of the two regions, and will gradually transfer up to 35% of its shares in the Simandou iron ore project. To the Guinean government to promote the development of this once blocked ore project. Essence Securities analyst Heng Kun pointed out that the equity transfer is more to compromise and concession with the government in order to successfully obtain the mining rights of the Simandou iron ore project. This new agreement also means that Chinalco's interest in this project will also change. Because according to the previous agreement between the two parties, the newly established joint venture company of the two parties holds Rio Tinto's 95% stake in the Simandou project. In the next 2-3 years, Chinalco will invest a total of 1.35 billion US dollars in the project capital expenditure in the next two to three years, and finally obtain a 47% stake in the joint venture company. According to Rio Tinto's plan, it is hoped that the Simandou project will be put into operation before the end of 2014, and iron ore shipments will begin before mid-2015. After the first phase of the Simandou project, the iron ore production capacity is expected to reach 70 million tons per year, and the Chinese market will be given priority.