Guinea stands out as a global mining leader, driven by its vast bauxite reserves and export dominance. In 2023, the country saw a 23% surge in bauxite exports, primarily to China.
Guinea’s Simandou region boasts the world’s largest high-grade iron ore deposit, with reserves exceeding two billion tons. The development of this resource is a joint effort between private sector companies and the state. Guinea’s mining industry is a major economic driver, contributing significantly to GDP and tax revenue.
The Simandou project, valued at approximately USD 20 billion, is expected to have a profound impact on the country’s economy, potentially doubling GDP in the coming years.
The Simandou project stands out as a landmark opportunity for Guinea and Africa, promising to unlock economic growth and development. By focusing on education and training, the project can build a sustainable foundation for the country’s future prosperity.
In a separate development, Volt Resources, a mining company, announced on April 7, 2025, plans to revive gold exploration in Guinea, seeking to capitalize on the high-demand gold market.
