The Simandou Mining Summit, held on the island of Kassa and Conakry, has brought together investors, technical and financial partners, and international institution representatives. On November 12, 2026, Minister Djiba Diakité, Director of the Presidential Cabinet and President of the Simandou Strategic Committee, outlined Guinea's economic ambitions. He emphasized the need for concrete commitments, transforming local mining resources, achieving economic sovereignty, and providing guarantees to investors.
Diakité highlighted the change in approach in 2022, under President Mamadi Doumbouya's leadership, which overcame divergences between mining partners. Previously, operators planned separate mining, rail, and port infrastructure, hindering progress. The new approach involves shared infrastructure and co-development, materialized through the Compagnie du Transguinéen (CTG), uniting the Guinean state and industrial partners.
The CTG has facilitated cooperation among Western and Asian partners, who share costs, risks, and infrastructure. Diakité noted that Guinea is no longer a spectator to its resources, with the state holding at least 15% in rail, port, and industrial infrastructure. The CTG's board is presided over by a Guinean, illustrating the state's increased role in project governance.
Diakité presented the Simandou 2040 socio-economic development program, which includes 122 megaprojects, 36 reforms, and a diversified economy across 14 priority sectors. He emphasized the need to leverage Simandou's infrastructure and skills to drive economic transformation, focusing on local valorization of natural resources.
The minister announced that raw mineral exploitation is ending, with a goal to create a major Guinean player in bauxite, alumina, aluminum, gold, and critical metals. He also stated that Simandou's revenues will primarily fund a sovereign wealth fund for future generations.
Diakité made three commitments to investors: respecting signed agreements, ensuring a visible and predictable business environment, and developing human capital through initiatives like Simandou Academy. In return, Guinean authorities expect serious, sustainable investments that create jobs, promote local content, and transfer skills and technologies.
The minister called on participants to make the Simandou Mining Summit a platform for concrete investments, rather than just discussions. The summit aims to attract investments that align with Guinea's economic goals, prioritizing local mineral transformation and economic sovereignty.
Key points
- Minister Djiba Diakité announces the end of raw mineral exports, aiming for local transformation and economic sovereignty.
- The Guinean state will hold significant stakes in Simandou's infrastructure, including rail, port, and industrial projects.
- The Simandou 2040 program aims to drive economic diversification and transformation through 122 megaprojects and 36 reforms.
