A long-term vision beyond mining alone. Far from being limited to the exploitation of the Simandou iron ore deposit, Simandou 2040 is designed as a comprehensive national transformation agenda. It is built on inclusive economic and social development, with the objective of sustainably improving living conditions for Guinean citizens and laying the foundations for stronger economic sovereignty. Designed to transcend political cycles, the programme brings together 122 flagship projects and 36 priority reforms, structured around five strategic pillars covering fourteen key sectors of the Guinean economy. Agriculture, mining, industry, infrastructure, energy, education, culture, digital transformation, health, finance and social protection form the backbone of this national ambition.
Five pillars to reshape Guinea’s economy
The first pillar focuses on agriculture, industry and trade, with particular emphasis on mining and local processing. The objective is clear: move away from the export of raw materials and develop industrial value chains capable of creating sustainable jobs. The second pillar targets education, culture and tourism, seen as essential levers for human capital development and social cohesion. The goal is to train a skilled, innovative youth able to support the country’s modernisation.
Infrastructure, transport, technology and energy make up the third pillar. The construction of the Trans-Guinean railway, the deep-water port of Morebaya and the modernisation of national roads are expected to transform connectivity and underpin industrialisation. The fourth pillar is dedicated to the economy, finance and insurance, aiming to strengthen financial services, improve economic governance and create an attractive environment for investors.
Finally, the fifth pillar places health, well-being and social protection at the heart of the national project, ensuring that economic growth translates into tangible improvements in people’s living standards.
Digital transformation as a catalyst for change
Digital technology occupies a strategic position within Simandou 2040. For Guinean authorities, digitalisation is a cross-cutting lever capable of accelerating the modernisation of public administration, infrastructure and services, while enhancing youth skills. According to Rose Pola Pricemou, Minister of Posts, Telecommunications and the Digital Economy, Simandou 2040 represents a forward-looking vision in which new technologies enable process automation, infrastructure modernisation and the emergence of a new generation of digital talent.
Simandou, an iron ore deposit of exceptional potential
Located in south-eastern Guinea, the Simandou deposit is regarded as one of the richest iron ore reserves in the world, with estimated resources of around 8 billion tonnes and an iron content exceeding 65%, well above the global average. At full capacity, annual production could reach 95 to 100 million tonnes, mainly destined for export to Asia, particularly China. The project is structured into four mining blocks. Blocks 1 and 2 are operated by the Winning Consortium, including Baowu Steel, while Blocks 3 and 4 are managed by Rio Tinto, through Simfer SA, in partnership with Chalco and the International Finance Corporation. The Guinean state holds up to 35% in the mine and as much as 51% in the associated infrastructure, ensuring direct involvement in project governance.
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An innovative co-development model
The Simandou project stands out for its co-development model, which places the Guinean state at the centre of strategic decision-making. Through its 15% stake in the Compagnie du TransGuinéen, responsible for the railway and port, Guinea retains influence over infrastructure considered vital to its development. This approach pools investments, reduces costs for partners and maximises local economic benefits, while aiming to avoid the so-called “resource curse” that has plagued many large-scale mining projects in Africa. The project includes the construction of a 670-kilometre railway linking the mining area to the Atlantic coast, as well as a deep-water port in the prefecture of Forécariah, south of Conakry. Designed for multi-purpose use, these facilities will transport not only iron ore but also goods and passengers.
They are expected to open up landlocked regions, stimulate agriculture and trade, and strengthen regional integration in West Africa. Plans also include a steel plant to process iron ore locally and reinforce Guinea’s industrial base.
A multi-billion-dollar market for the private sector
The economic spin-offs from Simandou are substantial. Procurement linked to the project is estimated at around USD 5 billion, covering a wide range of goods and services, from catering and logistics to engineering, IT and industrial equipment. The government is encouraging joint-ventures between Guinean companies and foreign partners to promote skills and technology transfer. This strategy aims to strengthen the local private sector, create jobs and build a robust national value chain.
The Simandou works represent a major industrial challenge, involving massive earthworks, construction and equipment requirements. Successful delivery will require rigorous coordination, international expertise and strict compliance with environmental and safety standards. To secure implementation, the programme provides for a clear timetable, strengthened monitoring mechanisms and a one-stop shop designed to simplify administrative procedures for investors and suppliers.
Simandou 2040, a pillar of Guinea’s economic sovereignty
Valued at over USD 200 billion over fifteen years, with nearly 70% financed by the private sector, Simandou 2040 replaces the former Interim Reference Programme and stands as Guinea’s new development roadmap. It also includes the creation of a sovereign wealth fund to ensure responsible management of mining revenues and stronger economic governance. Presented to the President of the Transition, General Mamadi Doumbouya, the 348-page strategic document, developed with the support of leading international advisory firms, now serves as the compass guiding Guinea towards controlled industrialisation, shared prosperity and sustainable economic sovereignty.
