The $23 billion Simandou iron ore project in Guinea, led by Chinese investors, is the largest mining venture in history and could redefine the global iron ore market. Often called the “Pilbara killer,” it challenges Australia’s dominance while offering high-grade deposits that could drive greener steelmaking. When production reaches 120 million tonnes annually, Guinea is projected to become one of the world’s fastest-growing economies.
Under the Simandou 2040 plan, the government aims to quadruple the economy by 2040 through $200 billion in infrastructure, industry, and education investments. “We have an opportunity to change the size of our country and the life of our people,” said Mines Minister Bouna Sylla.
After decades of setbacks, Chinese financing and engineering have propelled the project to completion. Analysts say Simandou could shift power in the global iron ore trade toward China, marking the biggest supply expansion in decades.
