Since the overthrow of Alpha Cond\u00e9 in 2021, the Simandou project has become a national priority for the Guinean junta. For General Mamadi Doumbouya, bringing this legendary deposit into production represents much more than an economic challenge: it’s a test of legitimacy. The aim? To make Simandou the driving force behind a new era of development in Guinea. <\/p>\n\n
Known since the 1930s, the deposit was only really taken seriously after independence. As early as the 1970s, S\u00e9kou Tour\u00e9 set his sights on international cooperation for its exploitation. Agreements were signed with Japan to build a rail network. At the time, there was talk of a $1.2 billion project. But these ambitions remained unfulfilled for a long time. <\/p>\n\n
The Anglo-Australian group Rio Tinto entered the scene in 1997, obtaining permits for more than 1,460 km\u00b2. Despite promising results, the company was slow to invest, citing the high cost of the railroad. In 2006, it secured a concession for four blocks, but the project stagnated. <\/p>\n\n
Thanks to this inertia, businessman Beny Steinmetz was awarded Blocks 3 and 4 in 2008, following suspicious payments to Mamadie Tour\u00e9, wife of Lansana Cont\u00e9. Sold back to Vale for $2.5 billion, the blocks became the focus of a corruption scandal. In 2014, Alpha Cond\u00e9 withdrew the rights from BSGR, triggering a lengthy international legal battle. <\/p>\n\n
In 2019, the Winning Consortium Simandou (WCS), made up of Chinese companies (Winning Shipping, Shandong Weiqiao) and Lebanon’s Fadi Wazny, relaunched the project. In 2020, the first infrastructure work will begin. The aim is to link the deposit to a mineral port in Forecariah via 650 km of railroad. <\/p>\n\n
As soon as he arrived, Mamadi Doumbouya demanded a reorganization. He imposed an agreement between WCS and Rio Tinto, with the Guinean state participating in the infrastructure. Despite tensions and an interruption in work, a new agreement was reached in mid-2022. Momentum was restored. <\/p>\n\n
At the end of 2022, Baowu Steel, the world’s leading steel producer, joins the project. It becomes a reference shareholder via stakes in all the blocks. Its arrival unblocks Chinese bank financing and ensures a production timetable: end 2025. <\/p>\n\n
As exploitation approaches, grey areas remain. The agreements signed between the government and the companies involved have not been published. This lack of transparency is a source of concern for NGOs, the IMF and a section of Guinean public opinion. <\/p>\n\n
After more than 30 years of ups and downs, the Simandou iron ore deposit finally seems to be on the road to exploitation. For Guinea, this represents an unprecedented economic opportunity, which could generate revenues for decades to come. But success will depend on transparency, good governance and fair distribution of the benefits. After dreaming about Simandou for so long, Guineans are now expecting concrete results. <\/p>\n","protected":false},"excerpt":{"rendered":"
A strategic project for Mamadi Doumbouya’s junta Since the overthrow of Alpha Cond\u00e9 in 2021, the Simandou project has become a national priority for the Guinean junta. For General Mamadi Doumbouya, bringing this legendary deposit into production represents much more than an economic challenge: it’s a test of legitimacy. The aim? To make Simandou the […]<\/p>\n","protected":false},"author":1,"featured_media":8098,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[39,58],"tags":[],"class_list":["post-8389","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-africa","category-miscellaneous"],"yoast_head":"\n