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China Merchants Jinling Shipping: Its wholly owned subsidiary will participate in the Simandu project and is set to sign a major contract

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China Merchants Jinling Shipping announcement: its wholly owned subsidiary, Hong Kong Minghua, has become an important participant in long-haul ocean transportation for the critical minerals of the Simandou project, and it is planning to enter into a “Long-Term Transportation Agreement” with a Chinese mineral resources supply-chain company that holds the ocean shipping rights for Simandou iron ore products. The Simandou project is a large-scale, high-quality open-pit hematite mining project located in the southeastern part of West Africa, in the Kerouane Prefecture of Guinea. The project has already confirmed approximately 4.4 billion tons of high-grade iron ore (with an iron content of more than 65%). Upon completion, the total production capacity can reach 120 million tons per year. As an important transportation service provider for the Simandou project, Hong Kong Minghua has already completed the transportation of approximately 600,000 tons of critical minerals for the Simandou project.
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