Guinea military government is constructing a $20 billion mining project, the Simandou Mining Project. It is the largest mining project in Africa by size and cost.
The Simandou mining site contains the world’s largest untapped iron ore deposit, with 2.8 billion tonnes of iron ore worth over $300 billion.
Upon completion, Simandou mine will have two mines, a 670-kilometre railway, 12 train stations, more than 200 bridges, and 4 underground tunnels.
President Mamady Doumbouya, who came to power in 2021, announced in 2024 that all foreign mining companies must refine minerals locally and share revenue equally with the state.
President Doumbouya’s stringent mining policies are part of a wider effort to curb resource exploitation and ensure wealth circulates in Guinea.
Guinea has the world’s largest reserves of bauxite, which is used to produce aluminum. It is used in the car and food industries.
Guinea is the world’s second-largest producer of bauxite. It has 7.4 billion tons of bauxite reserves worth over $500 billion.
