0155 GMT - While Rio Tinto expects first output at Simandou this year, UBS reckons exports from the giant iron-ore project will be modest through 2026. Satellite images show good progress on infrastructure development, UBS says in a note. However, there is significant work that needs to be completed at the mine sites, especially Blocks 3 and 4, it says. The bank expects the project to be impacted by rainfall over the next six months, after particularly heavy rains during May-to-October wet season last year. UBS also highlights political uncertainty. The military junta that took power in Guinea in 2021 is planning a constitutional referendum and return to civilian rule. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

(END) Dow Jones Newswires

June 19, 2025 21:55 ET (01:55 GMT)

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