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Home / Metal News / AfDB approves $100 million loan for Guinean bauxite development

AfDB approves $100 million loan for Guinean bauxite development

Dec 15, 2017 15:41

Source:SMM

The African Development Bank has agreed to provide $100 million of loan to support the development of bauxite mines in the Northwestern area of Guinea.

SHANGHAI, Dec 15 (SMM)－The African Development Bank has agreed to provide $100 million of loan to support the development of bauxite mines in the Northwestern area of Guinea. The African country is expected to produce 60 million mt of bauxite by 2020 in a bid to meet China's demand.

Guinea's resources account for one third of global bauxite reserves and the country currently has an annual production of 19 million mt.

The article is edited by SMM and is provided for information purpose only. It does not mean SMM agrees with its views and SMM assumes no liability for accuracy of information contained or quoted in the article.

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