Guinea powerbroker Djiba Diakité: Simandou can be a turning point

Outside his office, Djiba Diakité likes to shake hands with visitors in front of a floor‑to‑ceiling poster of the five icons representing the Simandou 2040 development programme: agriculture, food & trade; education & culture; infrastructure, transport & technology; economy, finance & insurance; and health & well‑being.

"Everyone must choose the ambition they think matters most," he says. "It tells me how they see Guinea's future."

A development engineer and former international investment banker, Diakité is widely regarded as a principal architect of Guinea's economic vision.

Like the five icons of the economic plan, he works at five roles in government: minister; chief of staff to the president; director of the cabinet; and chairman of the Regulatory Council for Post and Telecommunications.

But perhaps his most significant role is president of the Simandou Strategic Committee; the government entity tasked with overseeing one of the largest iron ore projects in the world, which sits on the cusp of production after decades of delay.

So, with all of these competing deliverables, which is Diakité's priority? He points to the icon: economy.

"It's simple; if we do not get the economy right, none of the other four can succeed."

Q: To begin, what does Simandou really represent?

A: "Simandou is three things.

"First, it is the mountain range - about 110 kilometres - containing iron ore of more than 65% grade, world‑class ore that will contribute to global decarbonisation. Beyond the ore, this mountain range contains an ecosystem of inestimable value, with rare species found nowhere else. We are not yet able to quantify everything that exists there. That is why we imposed the highest environmental standards.

"Second, Simandou is the project. The president created the co‑development framework in the interest of all stakeholders. It allows us to share costs and risks. Before, there were two separate projects - two railways, two ports. Now there is one. This drastically reduces capex and makes the ore extremely competitive.

"Third, Simandou is the Simandou 2040 programme. The president asked: how do we make Guineans richer through work? How do we transfer skills? How do we ensure business opportunities for Guinean companies? Simandou is the catalyst that will allow us to develop the other key sectors that will create wealth."

Q: You've said your strategy is to ensure 'the sun never sets on Simandou.' What do you mean by that?

A: "It means interdependence of interests. We ensured that the interests of all major powers are represented. Part of the mines is operated by Western partners, part by Asian partners. The infrastructure is built by Asian companies, but the locomotives are American. The signalling is European. The advisors are Canadian, French, Emirati. The state is the strategic partner guaranteeing everyone's interests. That is what we mean when we say the sun never sets on Simandou."

Q: How did Guinea bring together partners who normally do not work together?

A: "The president gave us a clear instruction: if we reopen negotiations, we must preserve the vital interests of the state. If not, he told us, 'come back to me. I am not in a hurry.' Some partners had not respected their commitments; others began works without studies. We decided to reset everything. We started with a new framework agreement on 25 March 2022.

"This is the only project I know in Africa where Western and Asian partners agreed to work together. The president said Rio Tinto would bring standards; Baowu and Winning would bring speed; and the state would guarantee everyone's interests.

"With the co‑development framework, the state has at least 15% not only in the mines but also in the rail and the ports. We created the Compagnie du TransGuinée (CTG). The chair and deputy CEO are Guinean. And we introduced reserved matters: no strategic decision can be taken without the state's agreement."

Q: There were reports that Chinese locomotives for Simandou were returned. Can you confirm this?

A: "Everything must follow what is written in the agreements. That is why the president created the Strategic Committee for Simandou. Our role is to ensure the agreements are applied. If something is not in line with the agreements, we simply ask that the partners respect what was agreed."

Q: How do you ensure long‑term stability?

A: "We are creating a sovereign wealth fund because Guinea can live without Simandou money. Simandou revenue is a surplus. The objective is not to spend it directly. In our minds there is a 30/70 ratio - 30% for the budget, 70% for the sovereign fund. And the fund will not be financed only by Simandou; it will also be financed by other strategic projects.

"Guinea today is rated B+ with stable outlook by Standard & Poor's - one of the strongest economies in francophone West Africa. With Simandou and CTG, and with Nimba Mining Company in bauxite, Guinea is becoming what many call a new Eldorado for the region."

Q: What role did China and other major powers play?

A: "China recognised Guinea only 15 days after independence - our relationship stretches back more than 65 years. President Doumbouya was received in China with great honour, and President Xi Jinping personally expressed his support for Simandou.

"But beyond China, we have major partners such as the United States, the United Kingdom and Australia. One of the first major contracts signed by the Trump administration was the Wabtec contract with Guinea - more than half a billion dollars. That contract guarantees jobs and training both in Guinea and in the United States. That is interdependence of interests."

Q: What is the timeline for value addition - pelletisation and steel?

A: "In the co‑development agreements, feasibility studies for the steel plant must be completed no later than two years after commercial production. If they are not done, the state has the right to hire the best firm in the world at the expense of CTG.

"Our ambition is clear: Guinea must become an economy of destination, not just for natural resources but for intellectual resources. That is why we created the Simandou Academy - so the best engineers in the region will be Guinean.

"We are also discussing other deposits such as Kalia. We have learned from our past - for example, CBG has been here more than 60 years without a refinery. Today we are constructing a bauxite refinery. The era of exporting raw minerals without transformation is over."

Q: What happens to the tens of thousands of workers after construction?

A: "The word is not demobilisation - it is remobilisation. These workers now have skills: welding, carpentry, electrics, heavy machinery. They should be remobilised into new projects along the corridor - agro‑industry, logistics, renewable energy.

"The Simandou 2040 programme includes around 122 mega‑projects and 36 reforms. We must not waste this human capital."

Q: How do elections and political stability fit into this - including whether excluded opposition parties can participate in the December vote?

A: "The president set three objectives when he took office on 5 September: strengthen social cohesion; launch sustainable socio‑economic development; and build strong institutions. We have adopted a constitution that reflects the aspirations of the sovereign people.

"Elections will take place on 28 December in full inclusiveness. We are confident in the future. Guinea will continue to affirm its economic and political sovereignty."

Q: And finally, what does success look like in 2040?

A: "Success is that Guinea exports not only ore but metals and manufactured products; that our youth have opportunities beyond mining; that our agriculture reaches markets; that our industries stand on their own.

"If we achieve that, Simandou will be remembered not as a mine but as the turning point for Guinea."