On 13th June 2022, Guinea’s second sizeable bauxite mining company, Compagnie des Bauxites de Guinée (CBG) stated that alumina refineries will be built in Guinea in the coming years; however, these projects demand substantial investments and are complex by nature.
The above statement of CBG has come following the new behest from Guinea’s junta government, which is desirous to foster mineral processing in the country.
On 10th June 2022, the present government of the West African nation, Guinea said, “Ten days from now, the bauxite mining companies will present a roadmap for constructing alumina refineries, extending a deadline the companies missed at the end of May.”
Approximately half of China's bauxite imports come from Guinea, Africa's largest producer of bauxite and the second-largest exporter of bauxite globally.
Souleymane Traoré, the CEO of Compagnie des Bauxites de Guinée (CBG) said, “There are no contradictions between the will of the mining companies to meet their obligations in terms of refineries and the political will to see this happen. It is legitimate.”
"I am confident and convinced that Guinea will have refineries in the coming years, concerned parties should, however, be aware of the complexities involved. There is ongoing work on CBG's refinery plan, but details could not be shared at this time.” Traoré added.
The industry experts have already exemplified that the lack of energy is one of the biggest obstacles to Guinea's alumina refinery development.
According to statistics from Guinea's mines ministry, CBG produced 17.4 million tonnes of bauxite in 2021, about a fifth of the country's total output.
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