Guinea: AfDB approves $100 million loan to develop a bauxite mine
(Ecofin Agency) - 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.