Catalysis of the reaction: GTP + H2O = 7,8-dihydroneopterin 2',3'-cyclic phosphate + diphosphate + formate + H+. This activity is part of the biosynthesis of methanopterin in Archaea, and requires Fe2+. [ https://www.rhea-db.org/rhea/25860 GOC:mengo_curators http://www.ncbi.nlm.nih.gov/pubmed/17497938 ]
Synonyms: Fe(2+)-dependent archaeal-specific GTP cyclohydrolase activity archaeal-specific GTP cyclohydrolase activity