Reuters reported that mining and refining activity in Guinea returned to normal after a 2 day strike called by unions to mark the bloody crackdown on anti government protesters September 28th 2009 brought operations to a halt.
Guinea's vast mineral resources have attracted major international mining firms and the West African country is the world's No 1 supplier of aluminum ore bauxite.
Here are details of some of the country's major mining operations and planned developments.
1. Bauxite - Guinea boasts around a third of all known reserves of bauxite, the ore used to make aluminum. CBG shipped a record 13.7 million tonnes in 241 shiploads during 2008. The company accounts for some 80% of Guinea's mining income which was worth USD 149 million in 2007.
Bauxite production is as follows: Compagnie des Bauxites de Guinee/Boke Mine 13.18 million, Alumina Company of Guinea/Fria Kimbo Mine 2.8 million, Compagnie des Bauxites de Kindia 3.8 million, TOTAL: Bauxite capacity 2008 21.6 million.
Bauxite production 2008 19.78 million; RUSAL's Friguia plant refines bauxite to alumina with a total projected 2008 production of 527,000 tonnes of alumina. Alcoa and Rio Tinto are considering adding an alumina refinery to their Guinea bauxite joint venture. Toronto listed Global Alumina is building a new 3.3 million tonne per year alumina refinery but has delayed start up by 2 years to 2011 and raised its cost forecast 35% to USD 4.3 billion.
2. Iron Ore - Last December, amid falling demand for metals and a company wide program of spending cuts, Rio Tinto postponed development of the Simandou iron ore concession. The firm said that it is the world's biggest undeveloped iron ore deposit, with an estimated 2.25 billion tonnes of ore. The project, forecast to cost USD 6 billion was scheduled to produce 70 million tonnes of ore in 2013, its first projected operational year with the capacity to increase production later. Rio and the government of then President Mr Lansana Conte had been in dispute for months about the project. At one point the government said it was cancelling a licence for Simandou but Rio said that it would move forward with the project. In December, BSG Resources, a company belonging to Israeli diamond trader Mr Beny Steinmetz said that it had obtained the rights to the northern portion of Simando. Mr Camara's administration has upheld the handing of the portion of Simandou to BSG Resources a decision Rio challenges.
3. Gold - Anglogold Ashanti operates Guinea's biggest gold mine at Siguiri in the northeast where it produced 332,000 ounces of gold in 2008. The Guinean state holds a 15% stake. Anglogold was one the 3 firms the government said in September would be audited. Crew Gold operates the LEFA Corridor Gold Project which produced 189,520 ounces in 2008. West Africa focused gold miner Semafo which is listed in Toronto, operates the Kiniero mine in eastern Guinea. It produced 51,700 ounces in 2008. Artisanal gold mining is also common in Guinea.
4. Diamonds - Mines ministry officials said that Guinea's diamond reserves are estimated at over 25 million carats not including as yet unmapped kimberlite fields. Guinea's mines minister recommended in July 2008 that the government cancel the diamond mining licence of the biggest diamond operator in the country, Ardor, due to lack of activity. Ardor, 85% owned by Toronto listed Azure Resources Corporation and 15% by Guinea's government, previously produced between 12,000 and 38,000 carats per year.
(Sourced from Reuters)
