Guinea plans to create a sovereign wealth fund using revenues from mining the world's largest iron ore reserves. The fund will finance key development projects under the government's Simandou 2040 Program.

The Simandou mine is one of the world's largest iron ore projects and is expected to start production in the first quarter of 2026. The mine is divided into four blocks, of which 1 and 2 are controlled by Winning Consortium Simandou, while Rio Tinto and Aluminum Corporation of China hold blocks 3 and 4.

The project involves mining 8 billion tons of iron ore, with an expected annual output of 160 million tons.