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FINANCIAL NEWS
Dubai aims funding for USD 8bn Guinean mine
12 Jun 2016
(MENAFN) Dubai firm is in talks with trading houses to develop bauxite reserves in Guinea, worth USD 8bn and held by BHP Billiton.
Moreover, Guinea has almost a third of the world’s bauxite reserves, utilized for making aluminum, whereas their development has been negative.
However, Guinea cancelled a tender for the bauxite mining acreage that sources proclaimed had been won by a Chinese firm.
In addition, Tounkara signed a deal with the Guinean government and its state mining firm to develop the mine, which consists of 9bn tons of bauxite.
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