Guinea: AfDB approves $100 million loan to develop a bauxite mine
Monday, 11 December 2017 16:12
The African Development Bank has approved last week, a $100 million loan for the development of a bauxite mine in the North West of Guinea. The project is managed by Guinea Alumina Corporation (GAC) subsidiary of Emirates Global Aluminium, and is situated in the region of Boké.
The funds will be used to build the mine, establish an export terminal dedicated to the Kamsar Port, and to renovate a 143km-long railway connecting the mine to the port.
GAC's project is quite important for the country as it will produce, every year, 12 million tons of bauxite, this in a context where Guinea aims at achieving an annual output of 60 million tons of bauxite, by 2020.
Louis-Nino Kansoun
Live News
-
Burkina Faso Approves 2026 Budget, Prioritising Security and Investment
20:19
-
Gold and Silver End Historic 2025 Higher After Brief Pullback, Bullish Outlook Extends Into 2026
19:37
-
DRC: Kinshasa Signs Deal With Vietnam’s Vingroup for Electric Transport Rollout
18:51
-
Orange To Stream 35 AFCON Matches On Max It App
18:21
-
Chad Renews Pressure on Telecom Firms as Audits Find Persistent Service Gaps
18:13
-
Domestic debt: AFG Bank emerges as a central player in clearing government arrears in 2025
16:33
-
Cameroon: FCFA 5,641.9 billion in idle external financing as execution bottlenecks persist
15:47
-
Cameroon: Financing Energy Ambitions Meets the Contingent Debt Constraint
13:19
-
African Startups Invited to Apply for $1 Mln Global Water Award
12:26
-
Moroccan Startup Woliz Raises $2.2 Mln in Pre-Seed Round
12:24
The BCID-AES launches with 500B CFA to fund Sahel infrastructure, asserting sovereignty from the B...
Nomba brings Apple Pay to 300k Nigerian shops. Following Paystack, this "second row" move enables ...
Kenya shipped its first mango consignment to the UK on December 20 The move is part of a pilo...
Kenya’s CMA licensed Safaricom and Airtel Money as Intermediary Service Platform Providers (ISPPs)...
NALA has secured PSP and PSO licenses from the Bank of Uganda, adding to its 2024 Money Remittance...
Burkina Faso adopts 2026 budget projecting 3,431.5 billion CFA francs revenue Spending prioritises security, education, health and rural...
Kinshasa signs MoU with Vietnam’s Vingroup for electric transport rollout VinFast to supply electric buses, cars and charging infrastructure Project...
Chad’s prime minister presses telecom operators to improve service quality Regulator audits reveal persistent outages, coverage gaps and weak...
Partnership targets priority projects, startup support and skills training Deal aligns with push to diversify economy through...
Afrochella, now known as AfroFuture, is a cultural event held annually in Ghana, mainly in Accra, around the Christmas and end-of-year period. Launched in...
Algiers is a coastal capital of around four million inhabitants, located in north-central Algeria. Its urban structure, heritage, and social practices...