Guinea’s vast Simandou iron ore project is moving ahead, in a development expected to transform the country into one of the world’s leading iron ore producers and a major player in global commodity markets.
Speaking to Business Africa, Guinean economist Abdoulaye Guirassy said the project was already reshaping local labour prospects.
“The Simandou project prioritizes hiring Guineans, especially for administrative roles. These jobs span mining operations, mineral processing, railway maintenance, port activities, support services, and more,” he explained.
The southern section of the deposit is being developed by Simfer, Rio Tinto’s Guinean subsidiary, while the Winning Consortium Simandou (WCS) is responsible for the northern block.
“Simandou will broaden Rio Tinto’s global mining footprint… Today the project brings together more than 25,000 workers from various sectors… Over 80% of our workforce is Guinean,” said Safiatou Diallo, Managing Director for Regional Economic Development and Strategy at Rio Tinto Guinea, in an interview with Africanews.
Analysts say that if governance and infrastructure plans hold, Simandou could anchor new rail, port and industrial corridors, lifting growth well beyond the mining sector itself.
Egyptian Textile Makers Uneasy Over Turkish Competition
While Africa’s resource story draws foreign capital, Egyptian textile manufacturers are sounding the alarm over surging Turkish investment in their sector.
“Turkish investors have far greater financial resources than we do,” said Emad Kinan, owner of Sunglass Glass Manufacturing. “We may benefit from low-cost labour and a weak currency that makes our products more competitive than China’s — but the country does nothing to help us improve product quality.”
Local producers fear that, without stronger industrial policy and technology support, they will be squeezed in their own market by better-financed foreign rivals using Egypt as a low-cost export base.
Nigeria Drops 15% Customs Duty on Imported Oil
In West Africa, Nigeria has scrapped its 15% customs duty on imported oil, a policy originally introduced to give local refineries breathing space and ultimately stabilise pump prices.
Economists warn, however, that Nigeria’s problems in the downstream sector run far deeper than tariffs, pointing to long-standing regulatory uncertainty, foreign exchange pressures and infrastructure bottlenecks.
They argue that without broader reforms to improve refinery reliability, strengthen pricing transparency and attract long-term capital, changes to import duties alone will not resolve chronic fuel supply and price volatility.
