Simandou ramps up exports as Guinea’s mega iron ore project gains momentum

Guinea’s Simandou iron ore project, widely regarded as the world’s largest undeveloped high-grade iron ore deposit, continues to ramp up production at a pace that is attracting global market attention. Exports reached 2.2 million tonnes in May, a sharp rise from April’s previous record of 1.3 million tonnes and well above monthly volumes recorded during the first quarter of the year. The increase suggests that operational bottlenecks at the project’s Morebaya export terminal are beginning to ease as infrastructure matures and logistics improve.

The project’s growing output is being closely watched by steelmakers and commodity traders because Simandou contains exceptionally high-grade ore, averaging around 65% iron content. This quality makes it particularly attractive for steel producers seeking to improve efficiency and lower emissions in steelmaking processes.

At full capacity, the mine is expected to produce approximately 120 million tonnes annually through two operating consortia, a level that could significantly alter global iron ore trade flows and increase competition for established exporters such as Australia and Brazil.

The project is also strategically important for China, the world’s largest consumer of iron ore, as it provides an alternative source of supply outside traditional markets. Initial shipments from Simandou have been directed primarily to Chinese ports, underscoring the project’s role in Beijing’s efforts to diversify iron ore imports and strengthen raw material security.

According to Bloomberg News, the sharp increase in May exports indicates that improvements at Morebaya port are beginning to unlock the project’s export potential. “The May numbers suggest something has shifted, likely the improving loading cadence at Morebaya as port infrastructure matures,” Alexandre Claude, chief executive officer of DBX Commodities, told the publication.