https://www.miningweekly.com

AFC invests $205m in Guinea bauxite project

6th February 2017

By: Anine Kilian

Contributing Editor Online

     

Font size: - +

JOHANNESBURG (miningweekly.com) – Pan-African multilateral development finance institution Africa Finance Corporation (AFC) will invest $205-million to help fund the development of Guinea-based mineral exploration company Alufer Mining’s high-grade bauxite reserves at its Bel Air mine.

“Mining exports have historically played a crucial role in Guinea’s economy, accounting for up to a quarter of Guinea’s exports,” AFC CIO Oliver Andrews said in a statement on Monday.

Once complete, the project will increase production levels in line with global demand, which, at present, outpaces supply.

“As global demand for aluminium increases, AFC is proud to be the sole private sector African investor in Alufer’s Bel Air mine. We are encouraged to see that Alufer has been working with the local community to develop sustainable projects which assist in the provision of drinking water, as well as development of local infrastructure and job creation,” he said.

The ten-million-tonne-a-year Bel Air project is being rapidly advanced, with first production targeted for 2019.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 
SBS Tanks
SBS Tanks

SBS® Tanks is a leading provider of innovative water security solutions with offices in Southern Africa, East and West Africa, the USA and an...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Resources Watch
Resources Watch
17th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.145 0.186s - 106pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: