Guinea is located between Guinea-Bissau and Sierra Leone in Western Africa with a North Atlantic coastline. It has a total area of 245,857 km2, 140 km2 of which is water, and is populated by 13,986,179 individuals as of 2024. Guinea's climate is generally hot and humid, with a monsoon season from June to November. Guinea has abundant mineral, agricultural, and hydropower resources, with fish, salt, uranium, gold, diamond, iron ore, and bauxite being the key natural resources.1
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Guinea’s vast natural resources remain underutilized due to political instability and poor infrastructure.
Economic growth slowed from 10.8% in 2016 to 5.6% in 2019, affected by Ebola and global shocks. Despite coronavirus disease 2019 (COVID-19), growth stayed positive, rising to 5.6% in 2021 before dropping to 4% in 2022 due to the Ukraine war. It rebounded to 5.7% in 2023 and remained strong at 4.1% in 2024, aided by bauxite demand and Simandou investments.4 As of 2023, the gross domestic product (GDP) of Guinea was US$22.2 billion.5
Guinea Mining History
Guinea's mining tradition dates back to the pre-Middle Ages, when gold and salt were key trade commodities with Ghana. In 1932, the Irish prospector R. Dermoly, who ascended the upper stream of the Makona River, discovered a diamond. After gaining independence, Guinea's economy became heavily reliant on mining.
A significant milestone came in 1963 with the establishment of the Compagnie des Bauxites de Guinée (CBG), which significantly advanced the country's bauxite extraction industry.6-8
Current Landscape of Guinea Mining
Guinea has become one of the world’s fastest-growing economies, driven by a mining boom.
After Indonesia’s 2014 ban on raw ore exports, bauxite miners shifted to Guinea, boosting its bauxite production six-fold. The country holds the world’s largest bauxite reserves, with mining contributing 21% of GDP and 90% of exports.
In 2022, Guinea exported over $5.1 billion in bauxite and $5.8 billion in gold. It is also home to Simandou, the world’s largest high-grade iron ore deposit, with over four billion tons. If the $20 billion Simandou project starts in 2025, Guinea’s real GDP could be 26% higher by 2030.9,10
Guinea's Mineral Resources
Guinea’s primary mineral resources include bauxite, alumina, diamond, cement, and gold. It holds 25% of the world’s bauxite reserves, estimated at 7.4 billion metric tons, and was the third-largest bauxite producer in 2019, contributing 19% of global output. Its bauxite, formed through tropical weathering, has low silica (2.5%) and high alumina content (over 40%), and is mined via opencast methods across western and central Guinea.8,11
Gold in Guinea is found in primary (quartz veins, stockwerks) and secondary (alluvial) deposits, with reserves estimated at 700 tons, though potential remains open. Key gold regions include Upper Guinea's Siguiri basin, as well as Fitaba, Sierra-Foré (Mambia, Boko), and N'Zérékoré (Gama-Karama-Yomou).8,11
Guinea is a significant diamond producer by carat, with total resources estimated between 25 and 30 million carats, though potential remains open due to incomplete kimberlite inventories.
Major deposits are in Kissidougou, Kerouane, and Macenta along the Milo, Baoule, and Diani rivers. Discoveries have also been made in western Guinea, specifically Kindia and Forecariah.
Diamonds are found in secondary (alluvial and eluvionary) and primary (kimberlite) deposits and are generally of high quality, predominantly suitable for jewelry.8,11
Guinea has also discovered base metal indices such as copper, lead, zinc, and cobalt in various regions and uranium in Kissidougou. It holds over 200 million tons of limestone in Kindia, Siguiri, Tougué, and Mali.
Significant graphite deposits are found in Lola (southern Guinea), while black sand minerals like ilmenite, rutile, and zircon occur along the coast and in major river beds. Offshore petroleum exploration was also reported as of 2017.8,11
In 2019, Guinea's bauxite production rose by 17.5%, likely due to recovery from the Ebola outbreak's impact. Gold production fell by 7.6%, while gem and industrial diamond production dropped by 21.8% and 21.7%, respectively, due to global demand fluctuations. Cement output increased by 8.7%, driven by construction growth.11
Guinea holds about 20 billion tons of high-grade iron ore, the largest untapped reserves globally. Proven reserves have an average iron content above 60%, often exceeding 65%. Major deposits are in central and southern regions, including Mount Simandou, Mount Nimba, Zogota (N'Zérékoré prefecture), and Kalia (Faranah prefecture), making the ore quality exceptionally high.8,11
Key Players in Guinea Mining
The CBG, a joint venture between Rio Tinto, Alcoa, and Dadco, owns Guinea’s largest bauxite reserve, the Sangaredi Mine. Recently, CBG has been overtaken by Société Minière de Boké (SMB), a Sino-Singaporean conglomerate, as the leading bauxite producer.10,11
In 2019, Russia’s United Company RUSAL gradually resumed operations at the previously suspended Friguia alumina complex, steadily increasing production in the second half of the year and reaching its planned capacity utilization by year-end.11
In March 2019, Nord Gold N.V. (Nordgold) of the Netherlands announced that a new mining permit for the Lefa Mine took effect. The permit, along with the negotiated convention, is valid for 15 years, matching the projected life of the mine.11
The Simandou iron ore deposit is divided into four blocks: Simandou North (Blocks 1 and 2) and Simandou South (Blocks 3 and 4). Rio Tinto holds rights to Blocks 3 and 4 through the Rio Tinto Simfer joint venture between Rio Tinto, Chalco Iron Ore Holdings, and the Government of Guinea. The Government and Winning Consortium Simandou (WCS) will develop Blocks 1 and 2.11,12
Technological Advancements in Mining
Since the early 2000s, artisanal and small-scale gold mining (ASGM) in Upper Guinea has experienced significant transformation due to mechanization. Introducing tools like metal detectors and crushers has increased mobility among miners and established temporary camps and markets. This mechanization has also intensified competition between customary authorities and public institutions over mining rents.
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These "low-noise" innovations foster long-term socio-economic changes, including shifts in work organization and land tenure, as miners adapt to new technologies and economic opportunities.13
Policy Framework
The Ministère des Mines et de la Géologie oversees Guinea’s mining code, while the Société Guinéenne du Patrimoine Minier (Soguipami) represents the government in mining ventures and promotes the sector internationally.
Governed by law L/2013/053/CNT, Guinea’s amended mining code promotes transparency, reduces taxes and royalties, and prioritizes hiring Guinean nationals.
Between 2015 and 2020, bauxite exports quadrupled—mostly to China—yet government revenue rose only slightly from $250 million in 2016 to $370 million in 2022, due to underpricing. To address this, a bauxite reference price was introduced via a joint ministerial decree in September 2022, aiming to boost domestic revenue by tens of millions.
In March 2022, the government declared its intent to use its right under the Mining Code to transport 50% of mining output via maritime means, aiming to strengthen control over the mineral export value chain and further increase national revenue.10,11
Environmental and Social Impacts of Guinea Mining
Bauxite, the primary mineral for aluminum production, offers significant economic benefits but poses serious environmental and health risks due to its extraction, refining, and shipping processes, which rely on heavy machinery and emit air pollutants.
In Guinea, particularly in the bauxite-rich Boké region, mining has led to severe land degradation and water pollution, especially near inhabited areas. These environmental damages often result in social and health issues. The management of these impacts has been inefficient, highlighting the urgent need for stronger environmental safeguards and more responsible practices within the bauxite mining supply chain.14
Challenges and Opportunities
Guinea’s mining sector faces major infrastructural and financial challenges. A key example is Simandou South, where the lack of supporting infrastructure has deterred foreign investment.
High capital expenditures for building railways, ports, and other facilities needed to access and export bauxite and iron ore impose significant financial burdens on companies, potentially delaying project development. Despite these challenges, Guinea holds vast mineral wealth, offering lucrative opportunities for mining firms and increased revenue for the government. Realizing this potential, however, will require strong political will and improved economic governance.9,11
Guinea's Future Mining Potential
Guinea's mining sector holds immense potential for economic growth, driven by vast mineral reserves and projects like Simandou. However, realizing this promise depends on overcoming infrastructure gaps, corruption, and political instability. Guinea could emerge as a global mining powerhouse with sustained reforms and investment.
References and Further Reading
- Guinea [Online] Available at https://www.cia.gov/the-world-factbook/countries/guinea/ (Accessed on 06 May 2025)
- Aradi, G. (2024) Guinea's military junta dissolves government and seals borders [Online] Available at https://www.bbc.com/news/world-africa-68314158 (Accessed on 06 May 2025)
- Guinea [Online] Available at https://www.transparency.org/en/countries/guinea (Accessed on 06 May 2025)
- Debt Sustainability Report GUINEA [Online] Available at https://media.afreximbank.com/afrexim/Debt-Sustainability-Report_Guinea.pdf (Accessed on 06 May 2025)
- GDP (current US$) – Guinea [Online] Available at https://data.worldbank.org/indicator/NY.GDP.MKTP.CD?locations=GN&view=map (Accessed on 06 May 2025)
- Soumah, I. (2009). The future of mining industry in Guinea. https://www.torrossa.com/it/resources/an/5130454
- Compagnie des Bauxite de Guinee (CBG) - Guinea Bauxite Company [Online] Available at https://www.devex.com/organizations/compagnie-des-bauxite-de-guinee-cbg-guinea-bauxite-company-109408 (Accessed on 06 May 2025)
- Guinea: A Top Mining Destination [Online] Available at https://www.invest.gov.gn/communication/mines/7.pdf (Accessed on 06 May 2025)
- Sanchez, B. (2024) How Asia is driving the mining boom in Guinea [Online] Available at https://www.ntu.edu.sg/cas/news-events/news/details/how-asia-is-driving-the-mining-boom-in-guinea (Accessed on 06 May 2025)
- Guinea: Mining and Minerals [Online] Available at https://www.trade.gov/country-commercial-guides/guinea-mining-and-minerals (Accessed on 06 May 2025)
- 2019 Minerals Yearbook [Online] Available at https://pubs.usgs.gov/myb/vol3/2019/myb3-2019-guinea.pdf (Accessed on 06 May 2025)
- Simandou [Online] Available at https://www.riotinto.com/en/operations/projects/simandou (Accessed on 06 May 2025)
- Doumbouya, I. K., Dessertine, A., Vinches, M., & Cerceau, J. (2024). Mechanization of artisanal and small-scale gold mining in Guinea: Socio-technical trajectory of a rural mining site in Upper Guinea. Journal of Rural Studies, 112, 103445. DOI: 10.1016/j.jrurstud.2024.103445, https://www.sciencedirect.com/science/article/pii/S0743016724002493
- Dibattista, I., Camara, A. R., Molderez, I., Benassai, E. M., & Palozza, F. (2023). Socio-environmental impact of mining activities in Guinea: The case of bauxite extraction in the region of Boké. Journal of Cleaner Production, 387, 135720. DOI: 10.1016/j.jclepro.2022.135720, https://www.sciencedirect.com/science/article/abs/pii/S0959652622052945
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