The world’s biggest mining project — a China-backed effort that could deepen Beijing’s control over Africa’s mineral resources — will begin operations in Guinea today.
The $23 billion Simandou iron-ore mine could spark an international revolution by vastly reducing the energy needed to produce steel: The high concentration of iron found in the mine requires mills to use less energy to melt the metal. The mine could also greatly boost Guinea’s prospects: The country projects GDP could quadruple by 2040, potentially making it the world’s third largest iron ore producer.
However, critics fear China’s growing dominance over Africa’s mineral resources could lead to environmental damage. Last week, the Democratic Republic of Congo suspended a Chinese-owned mine over its pollution of a local river.