The rivalry is playing out in south-eastern Guinea, home to some of the world’s richest iron ore reserves, at a time when African governments are seeking to extract greater value from long-delayed mining projects amid rising global demand for steelmaking inputs.
Earlier this month, Guinea shipped its first cargo of iron ore from the long-delayed Simandou project, sending about 200,000 tonnes of high-grade ore to China. The shipment marked a milestone for the $US23 billion ($35 billion) Rio Tinto-led project, which is backed by Chinese partners and is the world’s largest mining development.
Roughly 160 kilometres from Simandou, a new iron ore deposit known as Kon Kweni has been identified in the forested Nimba mountains of south-east Guinea. According to Financial Review, the reserve is operated by the US company Ivanhoe Atlantic.
The project has emerged as a potential alternative to the China-led Simandou mine, which has been central to Beijing’s strategy for securing critical resources across Africa.
Ivanhoe Atlantic, founded by American-Canadian mining billionaire Robert Friedland, has positioned its mine and rail project as a Donald Trump-endorsed alternative to Simandou, pledging to deliver high-grade iron ore into Western supply chains.
Bronwyn Barnes, president and chief executive of Ivanhoe Atlantic, said the $1.8 billion project, branded the “Liberty Corridor” would “help counter China’s tightening grip over critical minerals”.
As Africa enters a new phase of strategic competition, the United States and China are both seeking access to the continent’s critical minerals and rare earth elements, which are vital for global technological development.
While China has built a strong foothold across the region, American companies are reorganizing to navigate the complexities of commercial mining in this rapidly evolving environment.
Peter Mallin-Jones, a mining analyst, noted that long-term projects such as Ivanhoe’s are particularly sensitive to shifts in global investment patterns.
Source: Africabusinessinsider