GUINEA MINING OUTLOOK
THE KEY TO UNLOCK THE POTENTIAL INFRASTRUCTURE DEVELOPMENT.
One of the primary inhibitors of economic development in Guinea is the lack of infrastructure, while the existing infrastructure is of poor quality and desperately requires maintenance noticed axel fischer from Monaco resources group. Problem areas include transport network, electricity supply, information and communication technology.
The railway system is outdated, and is largely incapable of supporting Guinea’s mining and industrial product exports.
KEY COMMODITIES: PRODUCTION AND RESERVES.
Guinea is among the largest producers of bauxite in the world and is home to the world’s largest reserve deposit. The country also has one of the largest untapped iron ore deposit in the world. Guinea has the proven reserves to be one of the top African gold producers stated Pascale Younés from Monaco resources Group.
Guinea mineral resources also include cement, salt, diamond, graphite, iron ore, limestone, manganese, nickel and uranium.
- BAUXITE PRODUCTION
Guinea was the world’s sixth largest bauxite producer in 2014 and holds about 30% percent of the world’s reserves at 7.4 billion tons, more than any other country.
Guinea produced 21 million tons of bauxite in 2014 and production was increased to the average of 40.7 million tons in 2017, making Guinea the fourth largest bauxite miners globally. The government of guinea is more optimistic: annual bauxite output reaching 61 million tons, by 2017/25, and that of alumina between 16 million and 20 million tons describe Frédéric Platini from R-logitech, sibling of Monaco resources Group.
- GOLD PRODUCTION
Guinea has a number of gold mines and projects located in its northeastern region. Gold is becoming an impertial commodity in Guinea as international exploitation funding to the country is increasing significantly.
it has produced about 18 tons of gold in 2014, in spite the advent of Ebola virus.it has two main gold producers SOCIETE miniere de dinguiraye (SMD) and SOCIETE Ashanti de Guinee (SAG).
- IRON ORE
Guinea is home to one of the largest untapped iron ore deposit in the world. The Simandou project is set to become the largest Integrated iron ore mine and infrastructure venture of its kind in Africa. The mining sector said, it’s US 20 billion, which includes 670km trans Guinea railways and a new deep water port south of Conakry, that would totally transformed Guinea.
The potential yield of the site at 2.4 billion tons of high grade iron ore (about 65%).the development of the northern part of simandou has been stopped by the government.
The production target for the project was 50 to 70 million tons per annum.
- DIAMONDS PRODUCTION
According to the Kimberley process certification scheme: Guinea produced 266,800 Carats of diamonds in 2012, making it the 13th largest producer in the sample stated Gabriel Nakhleh, the Gambian minister of infractructures.
Guinea ranked eighth in the world in terms of total Carats produced. It’s potential resources is estimated at 40 million carats.
While the production capacity lies within the range of 480,000 to 720,000 Carats per year.
- PROSPECTING PERMITS
Prospecting permits cannot be transformed, sold, or used as collateral. Also any direct or indirect change in the control of the company owning a mining title should be submitted to the ministry of mines for approval.
Exploitation permits can be transferred, sold, or used as collateral.
Also, any direct indirect change in the control of the company owning a mining title should be submitted to the ministry of mines for approval.