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
-
Gulf Transfers to Cameroon Rebound to CFA11.8 Billion but Remain Marginal
21:02
-
Douala Sets Aside CFA1.8 Billion to Compensate Residents for Wouri Riverside Road
20:59
-
Cameroon’s Banana Exports Jump 22% in March, Driven by PHP
20:56
-
EU Funds Coastal Surveillance to Curb Illegal Fishing in Cameroon
20:54
-
Ethiopia Rolls Out National EV Charging Network in E-Mobility Push
20:49
-
Angola Issues $185M in Bonds to Recapitalize State Airline Ahead of Privatization
20:40
-
Togo returns to regional market with 30 billion CFA francs bond offering on April 17
19:56
-
CEMAC Lending Rises 10.7% in 2025 as Bad Loans Edge Lower
19:23
-
Côte d'Ivoire's PETROCI raises $358M for Phase 2 of Baleine oil field
18:57
-
Togo, Benin move to formalize cross-border horticultural trade
14:32
EBID aims to allocate nearly 41% of its commitments to environmentally and socially impactful projec...
BCEAO mandates all financial institutions to complete integration Move aims to ensure seamless, i...
Flutterwave secures Nigerian banking license to offer credit and savings License enables direct d...
This week, Africa’s health outlook is shaped by mounting supply chain risks tied to global tensions,...
M-PESA evolves into major financial platform with 35 million users Telecoms, fintechs expan...
Ethiopia rolling out nationwide EV charging network, EEU says First phase includes 40 stations, mainly in Addis Ababa Plan supports rapid EV growth,...
Angola issues $185 million bonds to recapitalize TAAG Move aims prepare airline for partial privatization, attract investors Restructuring...
CEMAC non-performing loans fall to 16.0% in 2025, BEAC says Lending rises 10.7% despite tighter liquidity and higher borrowing costs Growth,...
Investec secures $200 million IFC loan for green housing finance Funds to support eco-buildings, affordable green home loans in South...
Sungbo Eredo, located in southwestern Nigeria near the Yoruba town of Ijebu-Ode, stands as one of the most remarkable yet overlooked monuments of...
“Dodji, l’Archet Vodoun” is a documentary about reconnecting with ancestral culture to understand one’s origins, following an initiation ceremony that...