As of 30 January 2026, Baowu Resources has officially increased its shareholding from 49% to 51% in the share capital of Baowu Winning Consortium Simandou Pte. Ltd. (formerly known as Winning Consortium Simandou Pte. Ltd.), a Singapore-incorporated holding company holding 85% of the share capital of Winning Consortium Simandou SA, the operating company of Blocks 1 and 2 of the Simandou Project.
This acquisition of control results from Baowu Resources’ acquisition of an additional 2% of the share capital of Baowu Winning Consortium Simandou Pte. Ltd. This transaction is fully aligned with the long-term strategic partnership established between Baowu Resources and Winning Consortium Simandou Group for the development of Blocks 1 and 2 of the Simandou Project.
Following the completion of the transaction, Winning Consortium Simandou SA has changed its corporate name to “Baowu Winning Consortium Simandou SA”, with the acronym “BWCS SA”.
This key milestone was achieved with the continued support of the Government of the Republic of Guinea, which had formally approved the acquisition of this additional stake on 30 May 2024 and was duly notified of the completion of this transaction on 30 January 2026.
Through this transaction, Baowu confirms its long-term industrial and strategic commitment to one of the world’s most significant integrated mining and infrastructure projects, as well as its confidence in the geological, economic and operational potential of the Simandou Project.
Alongside its partner, Winning Consortium Simandou Group, Baowu intends, through this strengthened participation, to continue pursuing 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, while ensuring that the positive impacts of the Project deliver lasting benefits to local communities, the sovereign people of the Republic of Guinea, and all stakeholders.
