The milestone comes ahead of the MSGBC Oil, Gas & Power 2026 conference in Dakar - taking place this December. The event arrives at a time when Senegal and Guinea-Conakry are advancing multi-billion-dollar projects that are moving beyond extraction to include transport infrastructure, local processing, industrial zones and workforce development.

For Diamba Sud, the environmental decree marks one of the final regulatory milestones before construction. Fortuna submitted its mining permit application in February 2026 and has allocated $100 million for project advancement this year. The project’s preliminary economic assessment estimated an after-tax internal rate of return of 72%, highlighting Senegal’s growing attractiveness as a gold investment destination.

Meanwhile, Guinea-Conakry’s iron ore sector reached another milestone this month when Rio Tinto SimFer confirmed that the Simandou project remains on schedule for first exports in early 2027. The company has completed the railway spur linking the mine to the Trans-Guinean Railway, while port infrastructure at Moribaya enters its final construction phase.

With investment approaching $20 billion, Simandou represents one of the largest mining and infrastructure developments globally. The project’s 600 km railway, deepwater port facilities and integrated logistics network are designed to support long-term mineral exports while opening new transport corridors across Guinea-Conakry.

Once fully ramped up, Simandou is expected to produce 120 million tons of high-grade iron ore annually, making Guinea-Conakry a major supplier to global steel markets. The project is expected to increase competition in the seaborne iron ore market and provide additional supply of direct reduction-grade ore required for lower-emission steel production.

Guinea-Conakry is also accelerating downstream processing through its Simandou 2040 Program, which aims to reduce dependence on raw mineral exports. The strategy includes the development of multiple alumina refineries by 2030 as the country seeks to capture more value from its world-leading bauxite reserves.

A major step was taken this month when Chalco Guinea Company launched construction of a 1.2 million-ton-per-year alumina refinery in Boffa. The project represents a $1.68 billion investment, including $1.12 billion dedicated to refining infrastructure, and will become Guinea-Conakry’s third alumina refinery since independence.

The refinery agreement includes long-term skills development commitments, including 500 technical scholarships over 20 years and a new engineering and technical training school capable of educating up to 100 students per year. The project also supports Guinea-Conakry’s broader local content strategy aimed at increasing domestic participation in the mining value chain.

From Senegal’s emerging gold industry to Guinea-Conakry’s iron ore and bauxite sectors, the MSGBC region is attracting investment into large-scale projects that combine mineral production with transport infrastructure, refining capacity and industrial development. As these assets enter production, West Africa is positioned to play a larger role in global mineral supply chains, with MSGBC Oil, Gas & Power 2026 well-positioned to facilitate partnerships, deals and project delivery.

Explore opportunities, foster partnerships and stay at the forefront of the MSGBC region’s oil, gas and power sector. Visit www.msgbcoilgaspower.com to secure your participation at the MSGBC Oil, Gas & Power 2026 conference. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.