Rio Tinto has loaned $US100 million ($157 million) to the Chinese and Singaporean companies that will build railways and ports for Guinea’s Simandou iron ore project, in a major show of faith in its consortium partners, rival miners and the grand plan to build an African iron ore industry.

Rio plans to mine iron ore from two tenements in the Simandou mountains through the “Simfer” consortium, which features four Chinese companies including state-owned steel and aluminium giants Chinalco and Baowu.