The African Development Bank (AfDB) provided a US$100 million loan for Guinea to support the construction of bauxite in the northwest. On Saturday, the African Development Bank said in a statement that the Alumina Company of Guinea would be responsible for the operation of the bauxite mine, with a capacity of 12 million tons per year. The Alumina Company of Guinea was a mining development company under the global Aluminum Inc of the United Arab Emirates.
Guinea was planning to invest heavily in bauxite resources to meet the large demand from China. It was expected the production of bauxite in Guinea would increase to 60 million tons by 2020.
The bauxite reserves in Guinea were 1/3 of the world's total reserves, and was one of the leading bauxite producers in the world. At present, Guinea's annual output was 19 million tons of bauxite; although Guinea bauxite development suffered domestic trouble, but a large number of recent investment from overseas was also actively promote the development of the domestic bauxite mining industry.
The African Development Bank approved a US$100 million loan for the development of the Guinea bauxite mine
15 Dec 2017 12:50 reported by Eva
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