IRON ORE

The Simandou iron ore deposit located in the Simandou mountain range in south-eastern Guinea is believed to be the world’s biggest untapped high-grade iron ore deposit. It is also one of the most easily extractable iron ore deposits in the world.Despite its discovery in 2002, the massive ore body has remained dormant due to prolonged legal battles involving charges of corruption and bribery for securing mining rights, the military dictatorship in the West African country until 2010, as well as the huge infrastructure cost to develop the project. The deposit comprises banded iron formations within Paleoproterozoic and supracrustal sedimentary sequences in the southern block of the West African Craton. The deposit contains friable hematite and goethite haematite.Each half of the deposit is estimated to contain approximately two billion tonnes of recoverable high-quality iron ore reserves grading 66%-68% Fe.

BAUXITE

With an estimated 7.4 billion tons, Guinea has the world's largest reserves of bauxite, a mineral used in the manufacture of aluminum, which is essential for the automotive and food industries. It is also the second largest producer. China imports about half of its bauxite needs from Guinea. However, the benefits to Guinea from bauxite mining and other abundant natural resources such as iron, gold and diamonds are notoriously disproportionate. Experts cite insufficient investment, lack of essential infrastructure such as roads, and rampant corruption as factors that have hindered growth.

However, the benefits to Guinea from bauxite mining and other abundant natural resources such as iron, gold and diamonds are notoriously disproportionate. Experts cite insufficient investment, lack of essential infrastructure such as roads, and rampant corruption as factors that have hindered growth.