Chinese mining equipment manufacturer XCMG has secured a $110 million contract with Rio Tinto's SimFer for the Simandou iron ore project in Guinea. The agreement includes a fleet of 230-ton mining trucks and large graders, enhancing the project's operational capabilities.

Both companies aim to foster local community growth through job creation and vocational training initiatives. This partnership builds on a long-standing collaboration, with plans for the first raw material extraction slated for 2025, following significant infrastructure investments.