The World Bank urged Guinea to channel revenues from the Simandou iron-ore
project—the world’s largest deposit—into economic diversification and
resilience, World Bank vice president for West and Central Africa Osman Diagana
said in Conakry on Monday. Diagana said officials should focus not just on
export volumes but on how Simandou can create jobs, investment and new economic
opportunities, calling the project a historic chance to shift the economy.
Simandou began production in November last year; Guinea exported 6.8 mln t of
iron ore from the concession in 1H. The IMF expects mining-led growth to lift
GDP from 6.7% in 2025 to 8.7% this year and 9.3% next year.
