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The economy of Guinea is dependent largely on agriculture and other rural activities. Guinea is richly endowed with good minerals, possessing an estimated quarter of the world's proven reserves of bauxite, more than 1.8 billion tonnes of high-grade iron ore, significant diamond and gold deposits, and undetermined quantities of uranium. In 2021, Guinea was the world's biggest exporter of Aluminium Ore 2021 trade surplus was $4.3B.
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The mining industry of Guinea was developed during colonial rule. The minerals extracted consisted of iron, gold, diamond, and bauxite. Guinea ranks first in the world in bauxite reserves and 6th in the extraction of high-grade bauxite, the aluminium ore. The mining industry and exports of mining products accounted for 17% of Guinea's gross domestic product (GDP) in 2010. Mining accounts for over 50% of its exports. The country accounts for 94% of Africa's mining production of bauxite. The large mineral reserve, which has mostly remained untapped, is of immense interest for international firms.
China Hongqiao Group Limited is a company founded in 1994 that specializes in the production of aluminium. Hongqiao is currently the second largest aluminium producer in the world after Chinalco. It is listed on the Hong Kong Stock Exchange with stock code 1378, and is incorporated in George Town, Cayman Islands.
Compagnie des bauxites de Guinée (CBG) is a Guinean mining company. Since 1963 it has extracted bauxite from the notable mine in Sangarédi, in Boké Region in Guinea. It is 49% owned by the Guinean State, with the remainder owned by the Boké Investment Company, a 100%-owned subsidiary of Halco Mining, a consortium opened in 1962 by Harvey Aluminum Company to run mining operations in Guinea. Halco's stock is owned by Alcoa (45%), Rio Tinto Alcan (45%) and Dadco Investments (10%).
Compagnie des bauxites de Kindia (CBK) is a Guinean company in the mining sector. Since 2001, it has mined the large Kindia Bauxite deposit in Kindia, in Guinea.
References
- ↑ Worley (2021-01-19). "Metal of choice: The role of aluminium in energy transition". Miningreview.com. Retrieved 2023-06-13.
- ↑ "Profiling the top four bauxite exporting countries in Africa" . Retrieved 2023-06-13.
- ↑ "Aluminium, Alumina and Bauxite". www.south32.net. Retrieved 2023-06-13.
- ↑ Danino, Daniel. "Council Post: Building Ghana's Aluminium Empire: Leveraging Resources And Infrastructure To Become A Major Player In The Global Market". Forbes. Retrieved 2023-06-13.
- ↑ "Africa's top 5 primary Aluminium producers; Aluminium Extrusion, Profiles, Price, Scrap, Recycling, Section". alcircle. Retrieved 2023-06-13.
- ↑ Read "The Industrial Green Game: Implications for Environmental Design and Management" at NAP.edu.
- ↑ Hugon, Philippe (2010-03-01). "Cooperation: New Players in Africa". International Development Policy | Revue internationale de politique de développement (1): 95–113. doi: 10.4000/poldev.138 . ISSN 1663-9375.
- 1 2 "Index". www.railwaysafrica.com. Archived from the original on 2023-06-07. Retrieved 2023-06-07.
- ↑ "Guinea – Mining: Bauxite Mining – Overview". Mbendi. 6 June 2023. Archived from the original on 6 May 2023. Retrieved 6 June 2023.
- ↑ "Mozambique: Mozal Suffers From South African Energy Crisis". Agencia de Informacao de Mocambique (Maputo). 2008-06-10. Archived from the original on 2012-10-07. Retrieved 2017-09-07.