Doumbouya explains Guinea’s 15% stake in Simandou
By the AFREEQUE newsroom, based on Visionguinee
Guinean President Mamadi Doumbouya explains that the state holds 15% of the Simandou megaproject without directly financing the stake. He presents co-development and pooled investment as the method that brought partners together within the Compagnie du Transguinéen, at the Simandou Mining Summit, according to Visionguinee.
Guinean President Mamadi Doumbouya explained that the state holds 15% of the Simandou mining megaproject without providing initial financing. He presented the stake as the result of Guinea’s co-development model, which brings the state and private partners together in a single company, the Compagnie du Transguinéen, according to Visionguinee.
Mamadi Doumbouya also said Guinea had committed to a 15-year co-development programme, with the aim of preparing future generations. He called for stronger training for Guineans so that they can gradually take on positions of responsibility in the project, according to Visionguinee.
The head of state attributed the completion of Simandou after several years of deadlock to the decision to pool investments and risks rather than develop the infrastructure separately. He also highlighted closer ties between the companies involved in the project, saying their relations had improved despite their past differences.
The model presented by Mamadi Doumbouya comes within the framework of the Simandou Mining Summit, whose first edition is being held on Kassa Island. The Guinean president detailed to investors the choices that made it possible to bring the different partners together around the project.
