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
-
Switzerland Sounds WTO Alarm as US Trade Stance Raises Risks for Global Commerce
10:30
-
Visa Bets on Premium Banking in Senegal Despite Already High Adoption
20:55
-
WTO Talks in Yaoundé Lay Bare Deepening Fractures in Global Trade
20:47
-
Senegal Shifts Core Legal Services Online to Accelerate State Digitization
20:39
-
Ethio Telecom Turns to Green Power to Secure Network Expansion
20:07
-
University of Kara partners employers’ body to align education with labour market
19:11
-
Togo equips women’s rice cooperatives to cut losses and raise output
18:57
-
Togo launches SME selection under AfDB-backed agricultural value chain program
18:47
-
Mohamed Khelifi Builds Fintech Solution to Streamline Financing in Tunisia
14:39
-
Sami Kehal Expands Parcel Shipping Across Algeria with WeeWee Delivery
14:37
Firms move beyond payments toward integrated SME platforms Services include invoicing, inve...
Novo Nordisk cuts Wegovy prices in South Africa amid competition Move targets rival Eli Lil...
The BCEAO now allows UEMOA citizens abroad to open CFA franc accounts under the same conditions as...
ECOWAS, Energy China discuss regional power infrastructure cooperation Talks cover $36.3...
South Africa pushes faster oil, gas exploration despite legal challenges Environmental groups’ co...
Switzerland has raised concerns over the future of the World Trade Organization (WTO), warning that changes in U.S. trade policy could undermine global...
Visa says premium cards already widely adopted in Senegal Training aims to help banks better target and serve high-end clients Strategy focuses on...
Criminal records and nationality certificates now available online Platform aims to cut delays, costs, and centralize public services Government faces...
Operator explores renewable energy partnership with Italy’s Ascot Energy Move aims to stabilize power for 4G, 5G rollout and data centers Focus on...
RFI confirmed the end of “Couleurs Tropicales” following Claudy Siar’s departure after 31 years. The move follows a series of high-profile exits...
Top 50 ranking highlights women across core tourism service segments Tourism contributes $168 billion to GDP and supports over 24 million...