Dynamic Mining, a Guinea-based mining and exploration company, announced to postpone its infrastructure construction in the bauxite mining area to December this year. The construction will be started in December, with an expected construction period of around one year.
The project, with bank financing loans of around US$130 million, was previously scheduled to be launched in October this year.
The bauxite reserves of this mining area were about 190 million tons, with a mining life reaching 20 years roughly. The expected annual production capacity of the project was 6 million tons, which was planned to be put into production by end-2020.
Dynamic Mining planned to start to look for buyers in China next month.
Guinean Dynamic Mining postpones infrastructure construction in bauxite mining area
26 Aug 2019 13:19 reported by Joy Liu
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