How is the Simandou project reshaping global iron ore pricing power?

How is the Simandou project reshaping global iron ore pricing power?
Simandou in Guinea, with 4.41 billion tonnes of reserves and grades above 65%, is the largest undeveloped high-grade open-pit deposit. First ore has moved by rail to port, with an initial 2 million tonnes bound for China and eventual output projected near 120 million tonnes a year. That matters because three producers control over half the seaborne market and roughly 70% of traded volumes, while Chinese mills earn margins near 1.5% versus the miners' far fatter spreads. A new high-grade, non-traditional source dilutes that concentration and gives buyers a genuine alternative in negotiations.