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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.
BHP Group Limited is an Australian multinational mining and metals public company headquartered in Melbourne,Victoria,Australia.
Vale Canada Limited is a wholly owned subsidiary of the Brazilian mining company Vale. Vale's nickel mining and metals division is headquartered in Toronto,Ontario,Canada. It produces nickel,copper,cobalt,platinum,rhodium,ruthenium,iridium,gold,and silver. Prior to being purchased by CVRD in 2006,Inco was the world's second largest producer of nickel,and the third largest mining company outside South Africa and Russia of platinum group metals. It was also a charter member of the 30-stock Dow Jones Industrial Average formed on October 1,1928.
Rio Tinto Group is a British-Australian multinational company that is the world's second-largest metals and mining corporation. It was founded in 1873 when a group of investors purchased a mine complex on the Rio Tinto,in Huelva,Spain,from the Spanish government. It has grown through a long series of mergers and acquisitions. Although primarily focused on extraction of minerals,it also has significant operations in refining,particularly the refining of bauxite and iron ore. It has joint head offices in London,England and Melbourne,Australia.
WMC Resources Limited was an Australian diversified mining company.
Lonmin plc,formerly Lonrho plc,was a British producer of platinum group metals operating in the Bushveld Complex of South Africa. It was listed on the London Stock Exchange. Its registered office was in London,and its operational headquarters were in Johannesburg,South Africa.
Xstrata plc was an Anglo-Swiss multinational mining company headquartered in Zug,Switzerland and with its registered office in London,United Kingdom. It was a major producer of coal,copper,nickel,primary vanadium and zinc and the world's largest producer of ferrochrome. It had operations in 19 countries across Africa,Asia,Australasia,Europe,North America and South America.
Cerrejón is a large open-pit coal mine in Northern Colombia owned by Glencore. At Cerrejón,low-ash,low-sulphur bituminous coal from the Cerrejón Formation is excavated. At over 690 square kilometres (270 sq mi) the mine is one of the largest of its type,the largest in Latin America and the tenth biggest in the world. Cerrejón is divided into three sections,North Zone,Central Zone and South Zone. Total proven reserves are estimated at 503 megatonnes. In 2016,the mine produced 32,683,315 tonnes.
Glencore plc is a Swiss multinational commodity trading and mining company with headquarters in Baar,Switzerland. Glencore's oil and gas head office is in London and its registered office is in Saint Helier,Jersey. The current company was created through a merger of Glencore with Xstrata on 2 May 2013. As of 2015,it ranked tenth in the Fortune Global 500 list of the world's largest companies. In the 2020 Forbes Global 2000,Glencore International was ranked as the 484th-largest public company in the world. As of July 2022,it is the world's largest commodity trader.
Ivan Glasenberg is a South African business executive and former chief executive officer of Glencore,one of the world's largest commodity trading and mining companies. He was the company's CEO from 2002 to 2021. Glasenberg has or had citizenship of South Africa and Australia. He became a Swiss citizen in 2011. He is also on the board of mining company Minara Resources Ltd.
The Frieda River Project is a large open cast mine and associated infrastructure in the Sandaun and East Sepik Provinces of Papua New Guinea. The mine is located along a tributary of the Sepik River. The deposit is a large copper-gold porphyry deposit. The project includes a hydroelectric scheme to provide electricity. and service by the Frieda River Airport. In 2010,the mine had estimated reserves of 14.3 million oz of gold.
Beny Steinmetz is an Israeli businessman and entrepreneur,with a focus in the mining,energy,real estate and diamond-mining industries. He has been convicted of corrupt and illegal business practices in multiple countries. Beny Steinmetz is the chairman and co-founder of the philanthropic trust,Agnes &Beny Steinmetz Foundation and is actively involved in the art world in Israel.
Dan Gertler is an Israeli billionaire businessman in natural resources and the founder and president of the DGI group of companies. He has diamond and copper mining interests in the Democratic Republic of the Congo (DRC),and has invested in iron ore,gold,cobalt,oil,agriculture,and banking. He may also hold citizenship of that country. As of 2022 his fortune was estimated at $1.2 billion by Forbes.
Sam Walsh AO is an Australian businessman who was elected to the Mitsui &Co board as a non-executive Director on 21 June 2017. Prior to this he was chief executive officer (CEO) of London-based mining company Rio Tinto Group,from 2013 to 2016.
Sir Andrew Stewart Mackenzie is a Scottish businessman,who is the chairman of Shell plc and formerly CEO of BHP Billiton,the world's largest mining company. He succeeded Marius Kloppers,on 10 May 2013,and was succeeded by Mike Henry,at the start of 2020.
The Simandou mine is a large iron mine located in the Simandou mountain range of southern Guinea's NzérékoréRegion. Simandou represents one of the largest iron ore reserves in Guinea and in the world,having estimated reserves of 2.4 billion tonnes of ore grading 65% iron metal.
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.
In 2016,Guinea was ranked 142nd out of 176 countries on the Corruption Perceptions Index published by Transparency International. According to the index Guinea scored a 27 out of 100 for the perceived level of public sector corruption. This is the highest corruption score the country has received since 2006. The lowest score,16 points,was reached in 2008.
The Panama Papers are 11.5 million leaked documents that detail financial and attorney–client information for more than 214,488 offshore entities. The documents,some dating back to the 1970s,were created by,and taken from,Panamanian law firm and corporate service provider Mossack Fonseca,and were leaked in 2015 by an anonymous source.
Events in the year 2021 in Guinea.
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