Guinea has taken a significant step towards greater control of its mineral wealth with the official launch of Nimba Mining Company, the country’s first mining firm fully owned by the state.
The company’s creation forms part of the government’s Simandou 2040 Programme, which seeks to ensure that natural resources contribute more directly to national development.
Established on August 5, 2025, Nimba Mining reflects the government’s push to reclaim control over the exploitation of the country’s vast mineral reserves. Just three months after its formation, the company completed its first shipment of 200 000 tons of bauxite from the port of Kamsar, under a contract totalling 1.5 million tonnes signed in mid-October.
Officials have hailed the launch as a milestone for Guinea’s mining sector, long dominated by foreign companies.
Economist Hamidou Barry described the initiative as a decisive step towards economic self-determination.
“The establishment of Nimba Mining shows that Guinea is ready to take ownership of its mining future,” Barry said. “For years, most of the profits from our resources have gone abroad. This is a clear attempt to reverse that trend and channel more of the benefits to Guineans themselves.”
The government hopes Nimba Mining’s progress will set the tone for similar ventures in the coming years, boosting local value creation and reinforcing Guinea’s status as a leading producer of bauxite.
–ChannelAfrica–
