Guinea has long been the home of a minerals paradox. The West African country hosts the world's largest untapped reserve of high-grade iron ore, is one of the leading gold producing countries in West Africa and has a wealth of other minerals, including bauxite and diamonds.
And yet resource wealth has yet to translate into an affluent population, with only a few powerful individuals benefiting from the resource economy. Commodities have typically been shipped abroad in raw form with limited or no value addition within Guinea itself.
With the country's transformative Simandou project - the world's largest untapped high-grade iron ore deposit - having finally started production in November after years of delays, the country is now seeking ways to ensure more of its resource wealth stays in-country.
That effort extends beyond iron ore. At the end of June President Mamady Doumbouya, who came to power in a coup in 2021, banned the export of raw gold.
Originally published by African Business.