Baowu Resources has officially increased its stake from 49% to 51% in Baowu Winning Consortium Simandou Pte. Ltd. (formerly Winning Consortium Simandou Pte. Ltd.), a Singapore-incorporated holding company that owns 85% of Winning Consortium Simandou SA, the operator of blocks 1 and 2 of the Simandou Project. This acquisition of control results from Baowu Resources purchasing an additional 2% of the share capital of Baowu Winning Consortium Simandou Pte. Ltd.
The transaction continues the long-term strategic partnership between Baowu Resources and the Winning Consortium Simandou Group for the development of blocks 1 and 2 of the Simandou Project.
Following this transaction, Winning Consortium Simandou SA is changing its corporate name to ‘Baowu Winning Consortium Simandou SA’, abbreviated as ‘BWCS SA’.
This milestone was achieved with the continued support of the Government of the Republic of Guinea, which formally approved the acquisition of this additional stake on 30 May 2024 and was duly notified of the completion of the transaction on 30 January 2026.
Through this transaction, Baowu confirms its long-term industrial and strategic commitment to one of the world’s largest integrated mining and infrastructure projects, as well as its confidence in the geological, economic and operational potential of the Simandou Project.
Alongside its partner, the Winning Consortium Simandou Group, Baowu intends to use this increased stake to pursue an approach based on project competitiveness, the promotion of local content, compliance with internationally recognised ESG standards and the sustainable economic development of the Republic of Guinea. It also aims to ensure that the project’s benefits reach local communities, the sovereign people of Guinea and all stakeholders over the long term.
Press contact:
Baba Hady Thiam, Thiam & Associés
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