Guinea enters the Top 3 of the world
Guinea enters the Top 3 of the world’s largest bauxite producers (World Bank)
(Ecofin Agency) – In 2017, bauxite production increased by almost 40% to 42,716,000 tonnes, according to the World Bank’s new report on the outlook for the commodity market. The country thus makes its entry in the top 3 of the largest producers in the world, by conquering the 3rd place previously held by Brazil.
While Australia remains the world’s largest producer with 87.8 million tons, the West African nation, whose production volumes have been trending upwards for some years (see graph1), can covet the 2nd rank actually held by China. China has produced nearly the same volumes (just under 61 million tons) since 2015, while Guinea has set itself the goal of achieving an annual production of 60 million tons by 2020.
Graph 1: Evolution of Guinean bauxite production since 2010
Let us recall that Guinea’s production of bauxite has been on an upward gradient since 2015. Several mining companies are contributing to this increase, including the Guinea Bauxite Company (which operates on the Sangaredi mine), the Boké Mining Company (SMB), active on a project in the Boké region, and the Kindia Bauxite Company, managed by RUSAL. There is no doubt that production will increase further in 2018 as a result of the announcement at the end of 2017 with the start of the operation of the mine held in Boké by the French company, Alliance Minière Responsable. The latter has signed a joint venture agreement with SMB on the project in June 2017.
The future is more than promising for Guinea’s economy, which in 2016 generated 98.97% of its export revenue from mining products. For the moment, the country, which became China’s leading bauxite supplier in 2017 (40% of Chinese imports) ahead of Australia, can be content with its third place in the ranking of the world’s largest producers. It contributed 14.42% to the 296.109 million tons of global production of aluminium ore in 2017.
Distribution of world production in 2017
(Retrived from Mosaiqueguinee.com, Louis-Nino Kansou.)