Guinea's junta plans to open Simandou mining complex

Guinea's ruling junta is promoting the Simandou mining project as a major opportunity for economic growth in the country. The project has large iron ore deposits, estimated at 2.8 billion tonnes, making it the largest untapped source of iron ore in the world. Supporters believe this project could transform Guinea, similar to how oil has changed Gulf economies. The ambitious plans include a 650-kilometer railway connecting the mine to three deep seaports, alongside a metallurgical plant and extensive road infrastructure. This $20 billion investment is expected to create around 60,000 jobs and support education in a nation where many people live in poverty. However, much of the proposed infrastructure is still incomplete, raising questions about the projected start date for production later this year. Concerns about transparency also surround the project. The ownership structure has grown complicated after a coup in 2021. Two mining blocks are held by a consortium that includes Rio Tinto and a Chinese company, while a Singapore-based group is developing the other two. Critics claim that financial details are not public and that there is a lack of clarity regarding how contracts have been handled. There are also serious safety and environmental concerns. Reports indicate that multiple workers have died on the project, with allegations of accidents being ignored. Local residents have expressed worries about pollution and the impact on their communities. Activists have called for greater transparency and accountability in how the project is being managed. Despite the optimism from the junta, some analysts warn that credible production may not begin until 2028. They suggest that the proposed timeline for 2025 seems politically motivated, aiming to generate favorable media coverage ahead of upcoming elections. Overall, while the Simandou project holds potential, doubts about its timeline and impact remain.