{"id":7165,"date":"2022-04-12T13:02:29","date_gmt":"2022-04-12T12:02:29","guid":{"rendered":"https:\/\/www.afro-impact.com\/guinea-junta-imposes-on-site-bauxite-mining-on-foreign-companies\/"},"modified":"2022-10-20T05:35:56","modified_gmt":"2022-10-20T04:35:56","slug":"guinea-junta-imposes-on-site-bauxite-mining-on-foreign-companies","status":"publish","type":"post","link":"https:\/\/www.afro-impact.com\/en\/guinea-junta-imposes-on-site-bauxite-mining-on-foreign-companies\/","title":{"rendered":"Guinea: Junta imposes on-site bauxite mining on foreign companies"},"content":{"rendered":"\n

Guinea’s president, Colonel Mamadi Doumbouya, has ordered foreign mining companies to submit proposals and a timetable for the construction of bauxite refineries in the country. Thus, through the video of a meeting on 8 April 2022 with company representatives, published on the government’s Facebook page, the Colonel in power requires companies to process bauxite ore locally.<\/strong><\/p>\n\n

They have until the end of May to present the ruling junta with proposals and a timetable for the construction of bauxite refineries in Guinea. Indeed, estimated at 7.4 billion tonnes, Guinea has the world’s largest reserves of bauxite, an ore used in the manufacture of aluminium, which is essential in the automotive and food industries, for example. The country is also the second largest producer of bauxite in the world. And even the giant China imports about half of its bauxite needs from Guinea.<\/p>\n\n

On site processing of bauxite ” becomes unavoidable, it is an imperative and without delay”.<\/em><\/strong><\/h2>\n\n

Before the end of May, “I ask you to come back to the Minister of Mines and Geology with proposals, a project, a precise timetable<\/em> for the construction of alumina refineries in the Republic of Guinea,”<\/em> said President Mamadi Doumbouya. He insisted that all raw materials used in the manufacturing process must also be produced locally. Similarly, companies that violate refinery construction deadlines would face penalties, he warned.<\/p>\n\n

An unfulfilled commitment<\/strong><\/h2>\n\n

In front of the companies’ representatives, the President reminded them that they had been committed to building refineries in the country for many years. But none of the companies kept their commitment. Indeed, in order to continue using the country’s mines, these companies will have to propose to the government a timetable for the construction of processing infrastructure within a well-defined period. Any delay would result in sanctions. Last month, the Guinean authorities halted activity around the Simandou iron ore deposit to enforce national interests. Since then, a $15 billion agreement has been concluded between Guinea and foreign companies.<\/p>\n\n

Indeed, the companies currently operating in this sector in the country are the Mining Company of Bok\u00e9 (MCB, a consortium formed by the Singaporean shipowner Winning Shipping, the Chinese aluminium producer Shandong Weiqiao, the Yanta\u00ef Port group), the Guinea Bauxite Company (GBC, 49% owned by the Guinean state and 51% by Halco Mining Inc, a consortium formed by the American Alcoa, the Anglo-Australian Rio Tinto-Alcan and Dadco Investments) and the Russian company Rusal.<\/p>\n\n

A rich underground that does not benefit the country enough<\/strong><\/p>\n\n

In front of the industrialists, the president did not fail to point out that the resources exploited only benefit the companies. Despite the mining boom in the bauxite sector, we have to admit that the expected revenues are below expectations. You and we can no longer continue this fool’s game that perpetuates a great inequality in our relations. With a population of 13.1 million and a GDP of USD 15.4 billion in 2020, Guinea is at the bottom of the HDI ranking, occupying the 178th<\/sup> position out of 189 countries in 2019. According to the authorities, just under half of Guineans (44%) live below the national poverty line, which is estimated at 13,717 GNF\/person\/day (EUR 1.1) in 2019.<\/p>\n","protected":false},"excerpt":{"rendered":"

Guinea’s president, Colonel Mamadi Doumbouya, has ordered foreign mining companies to submit proposals and a timetable for the construction of bauxite refineries in the country. Thus, through the video of a meeting on 8 April 2022 with company representatives, published on the government’s Facebook page, the Colonel in power requires companies to process bauxite ore<\/p>\n","protected":false},"author":14,"featured_media":7109,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[194],"tags":[1162,1163,996],"class_list":{"0":"post-7165","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-bauxite-en","9":"tag-foreign-companies","10":"tag-guinea"},"yoast_head":"\nGuinea: Junta imposes on-site bauxite mining on foreign companies | Afro impact<\/title>\n<meta name=\"description\" content=\"Guinea's president, Colonel Mamadi Doumbouya, has ordered foreign mining companies to submit proposals and a timetable for the construction of bauxite refineries in the country. 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