Australian miner Arrow Minerals has signed a non-binding memorandum of understanding (MoU) with Baosteel Resources, a subsidiary of Baowu Steel, for potential iron ore sales from its Simandou North project in Guinea. The agreement is contingent upon resource estimation, project studies, and further negotiations. The Simandou North project has an exploration target of 281-716 million tonnes, with iron content ranging from 33% to 46%. The project is expected to commence operations in late 2025, leveraging the multi-user railway system at Simandou for logistics and market access.