A massive £15 billion mining project in Guinea is set to tap into what is believed to be the world’s largest untapped iron ore deposit. The Simandou site, located in the south of the country, contains an estimated 2.8 billion tonnes of high-grade iron ore.
The project has been delayed for several years due to political upheaval, disputes over licences and problems with infrastructure, but it’s all reportedly about to change. Guinea’s ruling junta said that production is expected to begin later this year. Mining already accounts for around 90% of Guinea’s exports and officials say this project could transform the country’s future. “This mining project must be for Guinea what oil was for the Gulf,” said Ismaël Nabé, the country’s minister for planning, in comments reported by The Guardian.
The scale of the development is enormous. Plans include a 403 miles railway linking the mine to the Atlantic coast, three deep-sea ports, a metallurgical plant and thousands of miles of road by 2040.
Authorities also claim the investment will create around 60,000 jobs and provide better access to education in one of the world’s poorest nations.
On social media and in official videos, the government has branded the project Simandou 2040 – describing it as a “bridge to prosperity.”
The Guardian reports that some industry experts have even called it a “Pilbara killer,” referring to the idea that it could one day rival Australia’s largest iron-producing region.
But questions are being raised about the timeline. Although some infrastructure is already underway, large sections of the railway remain incomplete and several construction areas are still far from ready.
According to The Guardian, some analysts don’t expect real production to begin before 2028.
The project’s ownership has also become more complicated since Guinea’s 2021 military coup.
Two of the four mining blocks are owned by a consortium including Rio Tinto, a Chinese holding company and the Guinean government. The other two are being developed by a Singapore-based group.
Critics have also raised concerns over transparency. “There is no transparency in the Simandou project,” said journalist Mamoudou Diallo, who has been investigating the project..
He told The Guardian that only a few members of the ruling junta have access to key information about how the deal is financed.
The Extractive Industries Transparency Initiative (EITI), which Guinea joined in 2007, has also urged the government to publish contracts related to the project.
What’s more, villagers in areas close to the mine say construction work is damaging the environment.
Some claim solid waste is polluting water supplies and damaging rice fields. “Citizens are even complaining that evacuation canals have been drained towards fields, in particular rice fields and water sources,” said Diallo.
Bright Simons, from the Imani Centre for Policy and Education, told The Guardian that the project’s timeline appears politically motivated, with junta leader Mamady Doumbouya expected to run in Guinea’s next election.
