Guinea has officially started exporting iron ore from the Simandou Project, which hosts the world’s largest iron ore reserve, marking a major milestone in the country’s economic development.
During the export inauguration ceremony, Diba Diakité, Chief of Staff at the Presidency of Guinea, stated: “Simandou should be to us what oil was to the Gulf countries. The launch of the integrated Simandou mining and infrastructure project is a historic day for the people of Guinea, who have awaited this moment for decades.”
Valued at USD 20 billion, the project includes the construction of a 650-kilometer railway line connecting the mines to two mineral ports on the Atlantic coast — a move expected to enhance Guinea’s logistics capacity and boost its exports.
Simon Trott, Chief Executive of Rio Tinto, described the project as “a turning point in executing a development of this scale and pace,”
Adding: “We have built more than just a mine — we have created an engine for economic growth.”
Meanwhile, Shi Ping, Vice President of China Baowu Steel Group, emphasized that the Simandou project represents “a new beginning for accelerated growth in Guinea,” noting that it will also support the transition toward a low-carbon economy and strengthen ties with China’s vast market.
Located in southeastern Guinea, the Simandou project consists of four operational blocks: Winning Consortium Simandou — backed by Chinese firms including China Baowu Steel Group — controls Blocks 1 and 2, while Rio Tinto and Aluminum Corporation of China (Chinalco) operate Blocks 3 and 4.
Mamoudou Nangalén Barry, Chairman of Société du Transguinéen, which oversees the railway and port infrastructure, said production is expected to reach 40 million tons in 2026, and between 80 and 120 million tons in 2027.
He concluded: “From now on, discussions about the global iron ore market cannot take place without mentioning Guinea. Thanks to the agreements we have signed, we now have the capacity to influence the market.”
