Zimbabwe may sell 40% stake in a key gold mine to raise capital
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Guinea’s production and export of bauxite increased in 2023 for a third year in a row, according to new government data and a senior mines ministry official.
Guinea is Africa’s biggest producer of the aluminum ore. Bauxite ore is refined to make alumina used in aluminum products needed for the energy transition.
The West African nation’s bauxite production rose over 19% year-on-year in 2023 to about 123 million metric tons, while exports jumped 24.5% to 127 million tons in the same period, mines ministry data seen by Reuters on Wednesday showed.
Guinea’s leading bauxite producer and exporter Societe Miniere de Boke (SMB)-Winning, which contributed to the increased output, has said it plans to invest up to $1 billion over the next five years to upgrade its river terminals and buy vessels to increase exports further.
In 2022, Guinea produced 103 million tons of bauxite and exported 102 million tons, according to a senior official from the ministry, speaking to Reuters on condition of anonymity.
The official said Guinea produced around 87 million tons in 2021. The country exported about 81 million tons the same year, according to ministry statistics.
(By Saliou Samb and Portia Crowe; Editing by Bate Felix and Alexandra Hudson)
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