Simandou iron ore: Guinea’s mega project set to transform global mining [Business Africa]

After decades of talks, negotiations, and setbacks, Guinea has officially launched the long-awaited exploitation of the Simandou iron ore deposit.

The vast project is set to transform the country into one of the world’s top iron ore producers.

To better understand what the project means for local communities, Business Africa spoke with Guinean economist Abdoulaye Guirassy.

“The Simandou project prioritizes hiring Guineans, especially for administrative roles. These jobs span mining operations, mineral processing, railway maintenance, port activities, support services, and more,” he explained.

Simfer — the Guinean subsidiary of mining giant Rio Tinto — is leading development in the southern section of the site, while the Winning Consortium Simandou (WCS) oversees the northern block.

“Simandou will broaden Rio Tinto’s global mining footprint (…) Today the project brings together more than 25,000 workers from various sectors (…) Over 80% of our workforce is Guinean,” said Safiatou Diallo, Managing Director for Regional Economic Development and Strategy at Rio Tinto Guinea, in an interview with Africanews.

Egypt’s Textile Producers Decry Unfair Competition

While foreign investment is widely welcomed, many Egyptian textile manufacturers are calling for tighter regulation to ensure fair competition.

“Turkish investors have far greater financial resources than we do. We may benefit from low-cost labor and a weak currency that makes our products more competitive than China’s — but the country does nothing to help us improve product quality,” said Emad Kinan, owner of Sunglass Glass Manufacturing.

Nigeria Scraps 15% Tax on Imported Oil

Nigeria has dropped its 15% customs duty on imported oil — a measure originally intended to give local refineries room to grow and, eventually, help stabilize fuel prices.

But experts warn that the country’s challenges run far deeper and will require sweeping reforms.