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Rio says still lacks funding for huge Guinean iron-ore project

Rio Tinto’s CEO said on Wednesday there was no progress for now on finding infrastructure financing for the massive Simandou iron-ore project in Guinea even after more than 200 meetings with possible backers.
Simandou could have a major impact on Guinea’s flagging economy, although iron ore prices are likely to remain under pressure in a global market expected to stay oversupplied for the foreseeable future.