XCMG Machinery has entered into a landmark global cooperation framework agreement with Rio Tinto. Another statement of work for the Simandou iron ore project, the world's largest untapped reserve of high-grade iron ore, has also been signed between XCMG and Rio Tinto SimFer, a joint venture between the Government of the Republic of Guinea, Rio Tinto, and Chalco Iron Ore Holdings, involving the supply of a comprehensive suite of core mining equipment valued over USD 110 million, including over 34 units of 230-ton mining trucks and over dozens of large mining graders with 350 and 550 horsepower, ancillary equipment and large production loaders and excavators. The statement of work for the mining project on-site, joining forces to assist in the mining of the Simandou project, is expected to have substantial positive impacts on local communities by creating jobs and enhancing technical skills among residents.

Both companies are committed to investing in vocational training programs that will aid community development around the mining area. Located in the southeast of the Republic of Guinea, the Simandou mountain range is home to some of the highest-grade iron ore in the world, globally making it highly significant within international mineral markets.