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
-
Nigeria Becomes a Major Fuel Supplier to Cameroon With 18% Share
21:37
-
South Africa Overhauls Telecom Rules to Attract Investment and Improve Networks
21:27
-
Cameroon Plans $226 Million Port Upgrade Through Public-Private Partnership
21:24
-
Cameroon Bets on Sanitary Reforms to Restore Shrimp Exports to Europe
21:20
-
Cameroon’s Arabica Coffee Earnings Jump as Quality Lifts Export Value
21:08
-
Cameroon’s Cotton Sector Runs on CFA60bn in Annual Farm Credit With Full Repayment
21:04
-
Power Producer Globeleq Launches Solar and Storage Project in Lusaka, Zambia
20:58
-
U.K. Backs Congo’s Agribusiness With $3.1 Million to Unlock Private Investment
20:31
-
Togo’s National Health Institute introduces digital platform and secure Insurance card
16:49
-
Togo, Côte d’Ivoire agree to deepen cooperation between arbitration courts
16:40
(EBID) - EBID aims to allocate nearly 41% of its commitments to projects with environmental and...
Mahindra & Mahindra is considering a CKD assembly plant near Durban to strengthen its presence i...
AFC disbursed €43 million for Côte d’Ivoire solar project Financing supports 66 MW pla...
Operators review 2025 investments, outline 2026 expansion plans Consumer complaints persist...
MTN Ghana launches crackdown on mobile money agent fraud Audits trigger warnings, suspensions...
Reform targets fragmented rules slowing network deployment Government aims to boost investment in broadband and 5G Changes seek to lower costs and...
PAD signs 30-year PPP to rehabilitate Boscam terminal Project includes new platform and potential 700-meter quay Plan aims to restore regional traffic...
Funding targets SMEs, farmers, and agricultural value chains Program aims to improve access to finance and attract private capital Initiative to...
Moscow sets export quota at 20 million tons from June to November Move aims to secure domestic supply during peak farming season Decision adds strain...
Burkina Faso launches “SORA” university series filming in Ouagadougou 25-episode project explores student life challenges and...
The Virunga Gorilla Marathon is a relatively recent initiative held in the Virunga region, a volcanic mountain range straddling the borders of the...