Gabon is intensifying efforts to attract global investors to develop the giant Belinga iron ore deposit, as President Brice Clotaire Oligui Nguema seeks to diversify the oil-dependent economy through large-scale mining and infrastructure projects.
Speaking during the African Development Bank annual meetings in Brazzaville this week, Oligui Nguema urged international financiers and industrial partners to back what he described as a transformational project capable of reshaping Gabon’s economic future.
The Belinga deposit, located in the northeastern province of Ogooué-Ivindo around 500 kilometres from the Atlantic coast, is considered one of the world’s largest undeveloped high-grade iron ore reserves.
Historical estimates by the U.S. Geological Survey and French authorities placed reserves at roughly one billion tonnes, although Gabonese officials have suggested the wider area could contain substantially larger deposits still requiring confirmation.
The project sits at the centre of Gabon’s strategy to reduce its heavy reliance on crude oil exports, which have dominated the economy for decades despite persistent poverty and unemployment.
More Read
Since taking power in the 2023 coup that ended more than five decades of Bongo family rule, Oligui Nguema has pledged to diversify the economy and promote domestic industrial transformation instead of exporting raw materials.
The Belinga initiative goes far beyond the construction of a mine. Gabon is seeking investors to finance an integrated industrial corridor including a railway of roughly 450 to 500 kilometres, a deep-water port and several hydroelectric dams intended to power mining and processing operations.
Officials say the infrastructure would allow Gabon not only to export iron ore but also to develop downstream industrial activities linked to steel and mineral processing.
More Read
The current lead developer is Australian mining company Fortescue, through its joint venture Ivindo Iron, in which the Gabonese state holds a minority stake.
The project gained momentum after a first trial shipment of ore was exported in late 2023 to demonstrate commercial viability.
In December 2025, Fortescue chairman Andrew Forrest and President Oligui Nguema reaffirmed a target of shipping the first commercial ore by 2030 and agreed to establish a presidential task force aimed at accelerating approvals and reducing bureaucratic delays.
Gabon’s mining ministry has estimated total investment needs at around $10 billion.
The government is simultaneously revising mining, tax and customs legislation while increasing transparency requirements for extractive contracts in an effort to reassure investors and distance itself from governance practices associated with the former regime.
Authorities have also indicated they may seek climate-related financing to support parts of the infrastructure, particularly hydroelectric power generation, although environmental concerns are likely to complicate such efforts.
More Read
The Belinga project lies in an ecologically sensitive region of rainforest, and large-scale infrastructure construction is expected to face scrutiny from environmental groups and international lenders.
Gabon’s ambitions also come at a challenging moment for global iron ore markets.
Analysts expect prices to soften in 2026 amid weaker Chinese steel demand and rising global supply, particularly from Guinea’s massive Simandou project, which began shipping ore to China in late 2025.
Simandou is expected to become one of the world’s largest new sources of high-grade iron ore over the next decade, increasing competition among African producers and placing pressure on higher-cost projects.
Industry analysts say Gabon will need to ensure Belinga remains competitive on production and transport costs if it hopes to secure long-term profitability in a potentially oversupplied market.
Still, supporters argue the project could transform Gabon’s economy if completed successfully, creating thousands of jobs, strengthening infrastructure and opening a new chapter beyond oil dependence.
For Oligui Nguema, the stakes are both economic and political as he seeks to demonstrate that Gabon can convert its vast natural resources into broader industrial development and long-term growth.
