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Rio Tinto has been solely funding preparatory work at the blocks it holds at Simandou, one of the world's largest untapped iron ore deposits, as its Chinese partners are yet to make their funds available, two sources close to the matter said. The Anglo-Australian miner owns two of four Simandou mining blocks as part of its Simfer joint venture with China's Chalco Iron Ore Holdings (CIOH) and the government of Guinea, where the mine is located. It has so far spent more than $500 million on developing the project that should have been split with CIOH, due to a delay in the Chinese co...

Rio earmarked $800m for its share of the development in 2023 and around $2bn a year in 2024 and 2025.

Controlling stakes in Odesa port-side chemical plant, Centrenergo, United Mining and Chemical Company, Ukrainian Energy Machines, Electrotyazhmash, Sumykhimprom were among the 15 large privatization objects that are represented in the ProZorro.Sale system.

SPFU head Umierov resigns to head the Defense Ministry. On Sept. 3, President Volodymyr Zelensky announced that he was replacing Defense Minister Oleksii Reznikov with the head of the State Property Fund of Ukraine (SPFU), Rustem Umierov. The next day, the Rada approved both, and Zelensky put forth Umierov’s formal appointment.

Volodymyr Zelensky removed Defense Minister Oleksii Reznikov from his post Sunday, citing the need for “new approaches and other formats of interaction with both the military and society in general.” Sputnik reached out to a veteran Ukrainian politician in exile and a senior retired US Army officer to get a better sense of Reznikov’s replacement.