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
-
Togo: Government Adopts 2026 Draft Finance Bil
16:36
-
China Overtakes EU to Hold Majority of Cameroon’s Industrial Equipment Market
16:34
-
Tanzania Names Angellah Kairuki to Lead ICT Ministry
16:32
-
Congo: Kokamba Platform Eases Corporate Management
16:26
-
Petroleum: Glencore’s Cameroon Output Drops 31% by End-September
16:17
-
Africa Turns to Multilingualism to Fill High-Skill Jobs
16:10
-
Somalia Enforces Mandatory Electronic Tracking for All Port Cargo
16:04
-
Tanzania’s LimaBot Uses AI to Cut Crop Losses
15:46
-
Togo and Benin Set 30% Agricultural Trade Growth Target Under PRIMA
15:08
-
Tradex to Invest CFA10 Billion in Equatorial Guinea Network in 2026
14:38
DRC minister visited Huawei China center to boost AI training cooperation Talks focused on launch...
China says Premier Li Qiang will attend instead of President Xi Jinping The U.S. and Russia also ...
After two years of limited testing, WhatsApp will soon let users and businesses hide their phone num...
Public Eye claims over 90% of Cerelac samples in Africa contain added sugar, averaging 6 g per por...
MTN Innovation Lab hosts Africa HealthTech Export 2025 Bootcamp in Cotonou Event targets s...
The NICTBB backbone already covers 78% of Tanzania and receives 73 billion TZS (≈ USD 30 million) for its next expansion phase. Tanzania is...
ECOWAS launched the second phase of PAMCIT to expand training in translation and conference interpreting. The global market for professional...
Germany, Norway and CAFI jointly committed $87 million to Canopy Trust as first-loss capital at COP30. The initiative aims to attract at...
(MCB) - The Mauritius Commercial Bank Limited (“MCB”) has successfully granted a strategic financing package to Invictus Investment Company PLC (ADX:...
Orange Egypt and Qatar’s Qilaa International Group have partnered to develop WTOUR, a digital platform offering trip planning, hotel bookings, local...
Singita will invest $60m to build a 60-bed lodge on Santa Carolina Island and $42m in projects across the Bazaruto Archipelago. The...