Underlining a dedication to change into a frontrunner in international iron ore manufacturing, Guinea-Conakry’s $20 billion Simandou 2040 nationwide improvement roadmap goals to harness the nation’s immense mineral wealth whereas selling socioeconomic progress throughout numerous sectors. In the meantime, the nation goals to drive hydrocarbon improvement on the again of a sturdy petroleum system and an in depth seismic knowledge stock.
A technical session at this 12 months’s African Vitality Week (AEW): Spend money on African Energies 2024 convention featured a presentation by the nation’s Ministry of Vitality, Hydraulics and Hydrocarbons that outlined Guinea-Conakry’s technique to spice up its competitiveness on the worldwide mining stage.
“Guinea-Conakry is named the nation with the richest iron ore reserves on this planet,” said Deputy Nationwide Director of Hydrocarbons on the Ministry of Vitality, Hydraulics and Hydrocarbons, Abdourahim Barry, including, “The primary sector that drives our financial system is the mining sector, particularly our booming bauxite manufacturing. However, within the coming years, we glance to be extra aggressive within the iron ore trade.”
Specializing in 4 key areas of improvement, the Simandou 2040 challenge will contain the extraction of roughly 2 billion tons of iron ore from the Simandou mine, with first exports slated for 2026. The challenge additionally includes the event of the 650-km Trans-Guinean Railway, which goals to attach the Simandou mine to Guinea-Conakry’s Atlantic coast. A deepwater port can be below improvement to streamline the export course of and strengthen the nation’s international commerce presence.
“The challenge will deliver $3.5 billion in income per 12 months beginning in 2031,” Barry added.
The technical session additionally introduced a strategic forecast of Guinea-Conakry’s hydrocarbon trade. The nation’s nationwide petroleum company, Société Nationale du Pétrole (SONAP), introduced that, along with the event of a hydrocarbon grasp plan, the federal government has plans to spearhead on- and offshore knowledge reprocessing, onshore stratigraphic drilling and native integration with regional knowledge.
“Guinea-Conakry has a large onshore potential,” said SONAP Upstream Director Mohamed Mansae, including, “Now we have greater than 15,000km2 of 3D knowledge and 45,000km2 of 2D knowledge, and in 2023, we discovered the presence of crude oil-type hydrocarbons primarily based on 20 rock, soil and fluid samples.”
Located in shut proximity to notable hydrocarbon discoveries in Ivory Coast, Senegal and Mauritania, all of Guinea-Conakry’s 27 offshore blocks and 7 onshore blocks are at the moment open for exploration and prospecting.
Distributed by APO Group on behalf of African Vitality Chamber.
